PARIS--French catering and vouchers company Sodexo (SW.FR) on
Thursday confirmed its targets for the fiscal year ending Aug. 31
after its net profit was lifted by the favorable impact of the
weakening euro and cost cuts.
Net profit rose 23% in the six-months ending Feb. 28 to 343
million euros ($320 million), while overall revenue rose 7% to
EUR9.93 billion. Operating profit was EUR620 million, an increase
of 17%.
"Currency effects for the period were positive for most
currencies, impacting revenues as well as other line items in the
statement of income," the company said.
Excluding the currency effects, sales and acquisitions, revenue
rose 2.2%.
The company expects organic revenue growth of around 3% in the
year ending Aug. 31, 2015, and 10% growth in operating profit at
constant exchange rates, excluding exceptional items.
Sodexo added its performance in the first half of the fiscal
year includes EUR35 million in cost cuts from a program to improve
operational efficiency. Total savings obtained since the program
was launched in fiscal 2013 rose to EUR135 million, the company
said.
-Write to Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
