09 January 2020 | Herpreet Kaur Grewal
Support services company Sodexo has reported that it saw first quarter fiscal 2020 revenues grow by 7.1 per cent.
The company also reported that on-site organic revenue growth had risen by 3.8 per cent, in line with the trend in the previous quarter.
It said the Rugby World Cup had contributed to growth that "more than compensated for the healthcare contract exit and contract losses in North America".
Sodexo CEO Denis Machuel said: "Revenue growth in the first quarter remains solid with a very successful Rugby World Cup which offsets the impact of contract losses and a decision to exit a healthcare contract in North America.
"With renewed management teams in North America, strong outsourcing trends in developing economies, continuing growth in Europe and rigorous implementation of our action plans to enhance productivity and reinvest in sales, marketing, digital capabilities and innovation, we are confident that we are on the right track."