Sodexo SA reported a 7.7 percent increase in total revenues for the nine months ended May 31. Organic revenue growth was 5.2 percent. The company confirmed its fiscal 2011 outlook of achieving organic revenue growth of 4.5 percent.
Consolidated total revenues for the nine-month period improved to 12.41 billion euros from 11.53 billion euros reported in the previous year. The company noted that there was a positive currency impact of 2.6 percent during the period.
On-site service solutions revenue increased 7.6 percent to 11.89 billion euros from 11.05 billion euros in the prior year. Organic growth was 5.1 percent.
Motivation solutions revenue for the period improved to 532 million euros from 489 million euros a year earlier, as a result of increased business development in Brazil and France during the third quarter. Organic revenue growth was 6.2 percent.
Commenting on the performance, Michel Landel, CEO of the company said in a prepared statement, "Since the beginning of the fiscal year, our activities have accelerated, with double-digit growth in emerging markets. This good performance gives us confidence in our ability to achieve organic growth of 4.5 percent for the full fiscal year. While we remain vigilant in the current macroeconomic environment, our teams continue to have multiple opportunities for differentiation through the development of our quality of life services."
