logo
Share SHARE
FONT-SIZE Plus   Neg

Sodexo H1 Group Profit Rises - Quick Facts

Sodexo (SDXAY.PK) said its first-half group net income was up to 297 million euros from 252 million euros last year.

Consolidated revenues grew 9.7% year-over-year to 9.07 billion euros, reflecting solid organic growth of 6.4%, a 3.9% increase related to acquisitions and changes in consolidation scope, and a negative currency impact of 0.6%.

Commenting on the results, CEO Michel Landel said,

"Our first half results are solid, demonstrating the relevance of Sodexo's strategy and Quality of Life services offer, illustrated by the major contract wins of the past several months. Organic growth is increasing, driven by development of more than 10% in our Facilities Management services and in our Motivation Solutions activity.

In a tough economic environment, our teams are fully mobilized to provide clients the innovation and productivity they expect.

We are maintaining our full year Fiscal 2012 objectives of an increase of around 10% in operating profit based on organic revenue growth of between 6% and 7%, with acquisitions also impacting revenues by around 4%."

In the medium term, Sodexo confirmed its objective of achieving annual average consolidated revenue growth of 7% and targets a consolidated operating margin of 6.3% for the end of fiscal 2015.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Senator Lisa Murkowski, R-Alaska, has expressed support for repealing Obamacare's individual mandate, a key provision Senate Republicans are hoping to use to offset the cost of their tax reform bill. The Congressional Budget Office estimates repealing the requirement that nearly all Americans purchase... Automotive startup Divergent 3D said that a Chinese-led investment syndicate has agreed to commit up to $107 million in financing through a new investment round. Hong Kong-based investment holding company, O Luxe Holdings Limited, led the investment group, which includes Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies. Apple Inc. has recently acquired Canada-based startup Vrvana, maker of the Totem augmented reality headset, TechCrunch reported. Both the companies reportedly declined to confirm news about the deal, which is reportedly worth $30 million.
comments powered by Disqus
Follow RTT