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Catering group Sodexo beats first-quarter revenue forecast as schools reopen

Randy Mancini 12 Jan 6
FILE PHOTO: The logo of French food services and facilities management group Sodexo is seen at the company headquarters in Issy-les-Moulineaux near Paris
FILE PHOTO: The logo of French food services and facilities management group Sodexo is seen at the company headquarters in Issy-les-Moulineaux near Paris, France, November 30, 2018. REUTERS/Gonzalo Fuentes/File Photo

January 6, 2022

(Reuters) – French catering and food services group Sodexo reported on Thursday a 17.5% jump in its first-quarter organic sales, helped by the reopening of schools and universities as countries gradually eased COVID-19 restrictions.

The caterer, which operates in 56 countries, reported a revenue of 5.26 billion euros ($5.95 billion) during September-November, slightly above analysts’ average estimates of 5.24 billion euros in a company-provided consensus.

The Paris-based firm, one of the world’s biggest catering companies alongside Britain’s Compass, said it was too early to estimate whether new sanitary measures to contain the spread of the Omicron coronavirus variant will have an impact on its outlook.

“At this stage, we maintain our annual guidance and remain confident in the continued recovery,” Chairwoman and interim Chief Executive Officer Sophie Bellon said in a statement.

($1 = 0.8844 euros)

(Reporting by Anait Miridzhanian; Editing by Sherry Jacob-Phillips)