July 24, 2018 / 4:58 AM / in 3 months

French company Edenred eyes higher annual profits after strong first-half

PARIS (Reuters) - French prepaid meal voucher and card provider group Edenred (EDEN.PA) predicted a further rise in full year 2018 operating profits, saying it would continue to deliver strong growth in the second half of the year in Europe and Brazil.

Edenred, which helps firms manage staff expenses and is best known for its “Ticket Restaurant” vouchers, said earnings before interest and tax (EBIT) reached 215 million euros ($251 million) in the first half, a like-for-like rise of 14 percent, excluding currency impacts, acquisitions and divestments.

It also forecast EBIT between 440 million euros and 470 million euros this year, against 429 million euros in 2017.

The forecast compares with average market expectations of 456 million euros for full year EBIT, ThomsonReuters I/B/E/S data showed.

Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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