PARIS Jan 12 French food services and
facilities management group Sodexo said organic
revenue fell 1.5 percent in the first quarter of the 2016/17
fiscal year, reflecting weakness in its energy and resources
unit and higher year-ago comparables.
Sodexo, which is the world's No.2 catering services company
after Britain's Compass Group, said it was nevertheless
confident of achieving its full year targets as revenue growth
would progressively accelerate in the coming quarters.
In November, Sodexo had warned the first quarter would be
tough against the year-ago quarter, which included the Rugby
World Cup contract which gave a boost to its business, saying it
would be "very small to slightly negative".
Sodexo kept its forecast for underlying revenue growth of
around 3 percent and a rise in operating profit, before
exceptional items and excluding currency effects, of between 8
percent and 9 percent, for the full year.
Sodexo published its first quarter update on its website.
(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)