Sodexo: continued organic growth in revenues for first quarter Fiscal 2014
January 07, 2014
Sodexo reported its revenue for the first quarter of Fiscal 2014, which ended on November 30, 2013.
Organic growth increased to +2.7%:
- On-site Services up +2.2% thanks to the success of integrated service contracts and solid business development in North America.
- Benefits and Rewards Services organic growth accelerated to +12.3% for the period.
Total consolidated revenue was down at -1.9%, after including the nearly 5% negative currency effect that has no impact on operations given that revenues and expenses are in the same currency.
Commenting on these figures, Sodexo CEO Michel Landel said:
“Sodexo continued to demonstrate robust organic growth in the first quarter. Our unique quality of life service offering remains in strong demand among our clients. Accelerated growth in North America and the development of facilities management services confirm this. Our Benefits and Rewards Services also made a very good start to the year, boosted by a strong marketing dynamic in Latin America.”
To read the full version of the press release, please download the PDF.