Sodexo raises annual revenue target after better-than-expected quarter

French food services company Sodexo on Thursday (2) raised its full-year organic revenue growth forecast, citing better-than-expected third-quarter performance.

The company now expects organic revenue growth of between 1.2% and 1.5%, instead of the previous projection of 0.5% to 1%.

Sodexo's revenue grew 2% to 6.17 billion euros (US$7.03 billion) in the third quarter, exceeding the 6.04 billion euros expected in a consensus drawn up by the company itself.

The group had lowered its forecasts in April from previously expected organic revenue growth of 1.5% to 2.5%.

Source: CNN