Sodexo raises full-year revenue target after stronger-than-expected quarter
Stronger Third-Quarter Performance Drives Upgraded Forecast
(Corrects to clarify in paragraph 4 that the target was lowered in April from the previously expected 1.5%-2.5% range)
Updated Revenue Growth Forecast
July 2 (Reuters) - French food caterer Sodexo raised its full-year organic revenue growth forecast on Thursday, citing stronger-than-expected third-quarter performance.
New and Previous Projections
It now expects organic revenue growth between 1.2% and 1.5%, instead of its previous projection of 0.5% to 1%.
Third-Quarter Revenue Results
Sodexo's revenue rose 2% to €6.17 billion ($7.03 billion) in the third quarter, surpassing the €6.04 billion expected in a company-compiled consensus.
April Forecast Revision
The group lowered its forecasts in April from the previously expected organic revenue growth of 1.5%-2.5%.
Additional Information
($1 = 0.8783 euros)
(Reporting by Lucie Barbier and Mathias de Rozario; Editing by Sonia Cheema)
