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Sodexo Reports 8.8 Percent Increase in Revenue For First Nine Months 2009


Sodexo reported 8.8 percent revenue gain for the first nine months of 2009, including a 3.4 percent organic revenue gain.

"After the first nine months, Sodexo continues to grow and is on track to achieve its objectives for the current fiscal year," said Michel Landel, Sodexo CEO in a prepared statement. "The motivation and commitment of our teams, our strategic position in high potential markets, the scope of our global services offer, our international presence and our solid financial structure are strengths on which Sodexo can continue to rely for the medium and long term."

The gain in North America was 3 percent, including continued growth driven by health care, senior care and education.

In an environment strongly affected by reductions in staffing levels and work hours and with a virtual halt to any discretionary spending, corporate services' performance continued to decline by 6.3 percent. Recent successes include the Federal Reserve Bank in East Rutherford, N.J. and New York.

In health care and seniors, sales rose 5.9 percent. Growth on existing sites was moderate and development was affected by longer lead times for client decisions. Among recent new contract successes was Willamette View Hospital in Oregon.

The Education segment rose 5.7 percent, growing at a much higher rate than the first nine months of the previous year. continuing to benefit from: increased enrollment on university campuses and in schools and new contracts during the previous year.

New clients include Brigham Young University (Rexburg, Idaho) and Eastmont School District (Washington).

Continental Europe reported 1.2 growth, affected by declines in corporate services, sports and leisure.

United Kingdom and Ireland reported 8.2 percent growth, excluding 2007 Rugby World Cup hospitality contract

The gain in the rest of the world was 14.9 percent.






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