July 5, 2018 / 5:01 AM / a year ago

France's Sodexo keeps goals despite weaker Q3 sales

PARIS, July 5 (Reuters) - French food services and facilities management group Sodexo on Thursday reported slower third-quarter sales growth amid continued weakness in its North American business in healthcare and in education services.

Sodexo, which has put an action plan in place to bolster sales and margins, kept its recently reduced targets for sales growth and margins for the 2017/18 full year.

Sodexo, the world’s second-biggest catering company after Compass Group, said third-quarter organic sales growth slowed to 1.4 percent from 1.7 percent in the first-half.

This was however above average analysts expectations of 0.7 percent sales growth for the third-quarter.

Sodexo reiterated its forecast that it expected to deliver organic revenue growth of between 1-1.5 percent for the full 2018 fiscal year, and an underlying profit margin of around 5.7 percent. (Reporting by Dominique Vidalon Editing by Mathieu Rosemain)

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