Sodexo First Half Fiscal 2018 Estimates and annual Guidance Update
March 29, 2018
Sodexo (NYSE Euronext Paris FR 0000121220-OTC: SDXAY), world leader in Quality of Life Services, today provides an update on its financial performance for Fiscal First Half 2018, which ended on February 28, 2018 and annual guidance update.
- Organic revenue growth of +1.7% for the First Half of Fiscal 2018 and underlying operating margin of 6.1% were both below expectations
- For Fiscal 2018, the Group now expects to deliver organic revenue growth of between +1% and +1.5%, excluding the 53rd week impact, and an underlying profit margin of around 5.7%
- Clear set of immediate action plans in place
Estimated financial performance for First Half Fiscal 2018:
Sodexo CEO, Denis Machuel, said:
“The second quarter performance was below our expectations and we have reduced our financial guidance for Fiscal 2018. We have identified specific areas of underperformance and are acting quickly to implement a series of corrective measures. As we combine the unique strengths of Sodexo, its offers and the quality of its teams, with greater discipline and accountability across the Group, I am confident we will deliver strong growth over the medium term.”
To read the full version of the press release, please download the PDF
Sodexo will hold a conference call (in English) today at 8:30 a.m. (Paris time), 7:30 a.m. (London time) to comment on this release. Those who wish to connect from the UK may dial +44 (0) 330 336 9411 or from France +01 76 77 22 57, followed by the passcode 890 30 84.