Reported 12 months ago
French catering group Sodexo reported slower quarterly sales growth, missing market forecasts due to a slowdown in China and changes in revenue recognition. Despite the impact on the tech sector, particularly in corporate services, Sodexo remains confident in China's long-term potential. The group's organic revenue rose 6.8% to 6.07 billion euros in the third quarter, below the expected 6.11 billion euros, with organic growth slowing down due to pricing effects, comparison numbers, and the Leap Year's positive impact. Sodexo reaffirmed its outlook for the fiscal year ending in August, including its participation in catering for the Paris Olympic Games and Paralympics.
Source: YAHOO