Pluxee Books 11% Organic Rise in 3rd Quarter Revenue, Driven by Latin America

Pluxee Achieves 11.1% Revenue Growth in Q3, Fueled by Latin America

(Reuters) -French voucher and benefits company Pluxee reported an 11.1% organic rise in its third-quarter operating revenue on Thursday, citing growth in Latin America and other international markets.

"While remaining mindful of the macroeconomic trends in a number of geographies, we remain confident in our ability to deliver on our full-year ambitions," CEO Aurélien Sonet said in a press release.

Benefits providers like Edenred and Pluxee are increasingly relying on tertiary geographies like Latin America to drive profits, as they cope with slowdowns in their main business regions amid rising economic uncertainty.

Pluxee said operating revenue in Continental Europe, its main market, rose 8.8% organically, affected by persisting pressure from weakening economic trends in certain markets.

Operating revenue in Latin America rose 13.6% organically, mainly carried by sustained strong commercial execution in Brazil, it said.

At group level, operating revenue rose to 270 million euros ($318.3 million) in the third quarter of its financial year, just below the 271 million euros expected by analysts in a consensus compiled by Pluxee.

The former benefits unit of Sodexo confirmed its full-year outlook, which it said took into account the synergies expected from its partnership with Santander in Brazil and the integration of closed acquisitions.

($1 = 0.8483 euros)

(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak)