Sodexo Posts Revenue Growth for Q1
French catering services giant Sodexo today reported organic revenue growth of 4.7 per cent for the first quarter of 2015/16.
Sodexo, the world's second largest catering company, posted a sales rise of 9.6 per cent year-on-year for the three months to November 30 to €5.57bn, compared to analysts’ estimates of €5.54bn, according to the Financial Times.
The positive result for the company was aided by the Rugby World Cup in England last Autumn. Sodexo was the provider of corporate hospitality and food services for the event, with sales in Sodexo’s UK and Ireland business up almost 60 per cent in the period.
Commenting on the figures, Sodexo CEO Michel Landel said: "First-quarter revenue growth reflected the substantial contribution of the Rugby World Cup contract, an acceleration of growth in the Health Care and Seniors segment in the United States and good momentum in the Corporate Services segment throughout the world. These positive effects, combined with growing demand for our Quality of Life Services offer in most regions, helped limit the impact of the tougher trading environment in the oil and mining sectors and the economic slowdown in Latin America. As a result, we confirm our Fiscal 2016 objectives."