Edenred optimistic on Latam as Europe worsens
PARIS Aug 30 (Reuters) - French vouchers and prepaid cards group Edenred forecast that full-year operating profit would be at least as high as last year, boosted by strong growth in Latin America and despite a worsening environment in Europe.
Earnings before interest and tax (EBIT) will be between 355 million and 375 million euros, Edenred said on Thursday, compared with 2011 EBIT of 355 million ($445 million). First-half EBIT rose 8.1 percent like-for-like to 170 million.
"In the second half, business should continue to be lifted by the strong growth in Latin America, whereas Europe will experience a more difficult environment, shaped by declining numbers of people in work, low inflation and the situation in Hungary," Edenred said in a statement. ($1 = 0.7982 euros) (Reporting by James Regan; Editing by Dominque Vidalon)
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