June 4, 2019 / 6:28 AM / 3 months ago

Italian caterer Autogrill sees sales growing 4.5-5% in 2018-2021

MILAN, June 4 (Reuters) - Italy’s Autogrill, which runs restaurants and bars at airports and motorways around the world, expects to grow revenues on average by between 4.5-5 percent a year in 2018-2021 to reach 5.3 billion euros ($6 billion) at the end of the period.

The group controlled by the Benetton family aims to lift its underlying core profit margin, a measure of profitability, to around 10 percent of revenue in 2021 from below 9 percent last year, it said in a statement.

The 2021 free cash flow is expected to be five times that of 2018, Autogrill said, adding it would have 1.5 billion euros to deploy for growth. (1 = 0.8885 euros) (Reporting by Francesca Landini, editing by Valentina Za)

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