Strong increases in Sodexo’s profits in the first half; Supports FY22 margin view, sees organic growth at lower end of outlook range
(RTTNews) – Sodexo SA (SDXAY.PK), a French catering services and facilities management company, said on Friday its first-half group net profit jumped to 337 million euros from 33 million euros. euros last year.
Earnings per share were 2.30 euros, compared to 0.23 euros a year ago.
Underlying net profit amounted to 339 million euros or 2.32 euros per share, compared to 128 million euros or 0.87 euros per share the previous year.
Turnover increased by 19.4% to 10.26 billion euros against 8.60 billion euros last year. Revenues increased by 15.9% at constant exchange rates.
Looking to the second half of the year, the company expressed confidence that the return to the workplace and sporting and leisure events will continue to recover. However, the environment remains uncertain with intermittent local outbreaks of Covid-19 and the war in Ukraine.
In addition, for fiscal 2022, the company maintained its expectation of an underlying operating profit margin close to 5%, at constant exchange rates.
The company now expects organic growth to be around the low end of the 15% to 18% range given in October 2021.
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