Vending Times Article: Sodexho Gets Off To Strong Start
January 17, 2008
PARIS — Sodexho Alliance began the year on a high note, with revenues up 6%, reaching $3.7 billion during the first quarter, ended November 30, 2007. Sodexho chief executive Michel Landel attributed the strong growth to the success of the company's 2007 Rugby World Cup Corporate Hospitality contract, acceleration of organic growth in continental Europe, solid performance in North America and the diversity of its client segments. He noted that, with nearly two- thirds of the company's revenue coming from the healthcare, education, defense and correctional service segments, and more than three-quarters of its business represented by these segments in North America, the food and facilities management giant is less sensitive to economic downturns than many of its competitors. Landel reiterated Sodexho's objective for annual organic revenue growth exceeding 7% and an operating profit increase of around 12%.
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