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Sodexo Confirms H1 Results

Sodexo S.A. (SDXAY.PK) confirmed First Half Fiscal 2017-2018 Results. At its meeting of April 10, 2018, chaired by Sophie Bellon, the Board of Directors approved the consolidated financial statements for the First Half Fiscal 2017-2018 and Denis Machuel, Chief Executive Officer, presented the performance for First Half Fiscal 2017-2018, which ended February 28, 2018.

The company reported that its net profit for the first-half of fiscal year 2018 increased 6.9% or 13.9%, excluding currency effects, to 372 million euros, benefiting from lower exceptional charges than the previous year and a significant reduction in the tax charge.

Underlying net profit was 397 million euro, down by 13.4% or 7.6% excluding currency effects. Overall this was in line with the trend in underlying operating profit.

First Half Fiscal 2018 Revenues of 10.3 billion euros were down 3.2% on the previous period, including a negative currency impact of -6.2%. Net acquisitions contributed +1.3%, with Centerplate consolidated for the first time as of January. Organic growth in the first half was 1.7% or 1.9% excluding the 53rd week impact in North America. Outside North America, on-site organic growth was 4.4%. Organic growth of On-Site Services was 1.6%

For fiscal 2018, the Group now expects to deliver organic revenue growth of between 1% and 1.5%, excluding the 53rd week impact, and an underlying profit margin of around 5.7%.

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