1 June 2017 | Herpreet Kaur Grewal
French catering company Elior Group has reported that its contract catering and services revenue was up 238 million (£208 million), or 10.9 per cent, on the figure for the first half of its full financial year 2015-2016.
This amounted to 2.43 billion (£2.13 billion), accounting for 76 per cent of total consolidated revenue. The figures were a part of the results for first-half 2016-2017, corresponding to the six months ended March 31, 2017.
Organic growth for the period came to 2 per cent. This excluded the effect of voluntary exits from low and non-profitable contracts in Europe, organic growth was 3.6 per cent resulting from a sharp acceleration in the second quarter.
In the UK, revenue was weighed down by an adverse calendar effect and delays in the start-up of certain new contracts, particularly in the business and industry market.
Philippe Salle, Elior Group's chairman and chief executive officer, said: "The group had a good first half of FY 2016-2017, with performance in line with our forecasts. Excluding the effect of voluntary contract exits, organic revenue growth accelerated in the second quarter.
"In our contract catering operations, growth was buoyed by an overall favourable calendar effect and robust business levels, primarily in the United States, and in concession catering, momentum remained strong for our international operations."