Sodexo: a dynamic first quarter Fiscal 2016, in line with full year objectives
January 13, 2016
Sodexo reported its revenues for the first quarter of Fiscal 2016, which ended on November 30, 2015.
- Revenues up +9.6%, including organic growth of +4.7%
On-site Services: +4.7% organic growth
- Rugby World Cup contribution accounting for half of the Q1 organic growth,
- Acceleration of growth in Health Care and Seniors in North America,
- Good momentum in integrated services contracts won by the Corporate Services segment in 2015 partly offset by a sharp slowdown in the oil and mining sectors.
Benefits and Rewards Services: +5.3% organic growth
- Sustained performance reflecting solid sales development and despite the economic slowdown in Latin America, and more particularly in Brazil..
- Sodexo confirms its Fiscal 2016 objectives of around +3% organic revenue growth and growth in operating profit of around +8% at constant exchange rates and before exceptional items.
Commenting on these figures, Sodexo CEO Michel Landel said:
“First-quarter revenue growth reflected the substantial contribution of the Rugby World Cup contract, an acceleration of growth in the Health Care and Seniors segment in the United States and good momentum in the Corporate Services segment throughout the world. These positive effects, combined with growing demand for our Quality of Life Services offer in most regions, helped limit the impact of the tougher trading environment in the oil and mining sectors and the economic slowdown in Latin America. As a result, we confirm our Fiscal 2016 objectives."
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