PARIS (dpa-AFX) - Sodexo SA (SDXAY.PK), a French food services and facilities management firm, on Friday registered a net loss for the first-half, due to a higher loss from discontinued operations.
For the six-month period, the company reported a net loss of 74 million euros or 0.50 euro per share, compared with a restated profit of 440 million euros or 2.98 euros per share, reported for the same period last year.
Net profit of the period from continuing operations was 496 million euros or 3.35 euros per share, higher than previous year's restated 339 million euros or 2.30 euros per share.
Net loss from discontinued operations stood at 570 million euros or3.85 euros per share as against a restated profit of 101 million euros or 0.68 euros per share in 2023.
Pre-tax profit moved up to 599 million euros, from restated 466 million euros in 2023.
Operating earnings were at 642 million euros, higher than restated 509 million euros a year ago.
Underlying operating profit rose to 612 million euros from last year's restated 545 million euros.
Underlying operating profit margin increased to 5.1 percent from restated 4.7 percent in 2023.
Revenue was 12.101 billion euros, up from previous year's restated 11.581 billion euros.
Looking ahead, for the full year, the company said that its underlying operating profit margin improvement is confirmed at +30 to +40 bps, at constant currencies.
Annual organic revenue growth now expected at the top of the positive 6 percent to positive 8 percent range.
The annual guidance is based on the solid commercial momentum, some ongoing volume growth, the contribution of the Paris Olympics and Paralympics Games, and expected pricing at close to positive 4 percent.
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