5 July 2018 | Herpreet Kaur Grewal
Support services company Sodexo has announced that it saw a 1.6 per cent increase in organic growth for the first nine months of the 2018 fiscal year.
These revenues amounted to 15.5 billion, down by -2.9 per cent, states the group's financial statement.
Net acquisitions contributed +2.2 per cent during the nine months, accelerating in the third quarter, with caterer Centerplate contributing for the full quarter.
Sodexo CEO Denis Machuel said: "Revenues in the third quarter were in line with our revised expectations. On-site services' organic growth remained soft, as anticipated, and benefits and rewards services improved slightly.
"Across our services, we have seen particularly strong growth across Asia and Latin America.
"The key actions we identified to improve short-term performance and to drive growth in the longer term are being rolled out across the group. While it is still early in this process, we remain confident in the benefits that they will deliver and the growth opportunities that are available to us. We are maintaining our revised guidance for the current fiscal year."