Sodexo revenue rises, helped by Rugby World Cup
Sodexo SA’s revenue rose 7.1% in the first quarter of fiscal 2020 as the Rugby World Cup helped buoy growth.
The French food-services and facilities company SW, +2.48% said Thursday that revenue in the period totaled 6.08 billion euros ($6.75 billion), up from EUR5.67 billion in the same period last year. On an organic basis, revenue rose 3.8%.
Excluding the Rugby World Cup, revenue growth would have been 2.3%, with the event helping offset the exit of a health-care contract in North America, the company said.
Sodexo backed its fiscal 2020 guidance for organic revenue growth of about 4%, with stable underlying operating margins excluding the impact of currencies or the implementation of the IFRS 16 accounting standard.