September 18, 2017 / 5:58 AM / a month ago

Services group Sodexo sees some impact from euro's strength

PARIS (Reuters) - Sodexo (EXHO.PA), a French facilities management and vouchers group, said on Monday there would be some impact on its results from the recent rise in the euro EUR=.

The logo of French food services and facilities management group Sodexo is seen at the company headquarters in Issy-les-Moulineaux near Paris, France, March 18, 2016. REUTERS/Gonzalo Fuentes/File Photo

“The currency impact on operating profit will remainjust slightly positive, but less than in the first half, given the recent strength of the euro against the U.S. dollar, sterling and the Brazilian real,” Sodexo said in a statement.

Sodexo, the world’s second-biggest catering services company after Compass Group (CPG.L), confirmed its guidance for operating profit growth at the bottom of an 8-9 percent range for 2017, and announced the completion of the sale of its Vivabox USA arm to Lion Equity Partners.

In July, Sodexo cut its full-year sales growth target after a weaker-than-expected performance in the third quarter.

Reporting by Sudip Kar-Gupta; Editing by Sherry Jacob-Phillips

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