Weak Latam currencies hit Sodexo Q1 sales

PARIS Wed Jan 8, 2014 1:05am EST

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PARIS Jan 8 (Reuters) - French catering and vouchers group Sodexo posted a 1.9 percent fall in first-quarter revenue because of weak currencies in Latin America and a slowdown in Brazil and China.

Excluding currency effects, the world's second-biggest catering services company after Britain's Compass Group, posted a 2.7 percent rise in sales as new contracts in the U.S. with clients such as Siemens offset weakness in Europe.

Sales reached 4.86 billion euros in the period ended Nov. 30, Sodexo said on Wednesday.

The group reiterated its forecast for 2.5 to 3 percent rise in like-for-like full-year 2013/14 sales.

It also kept its forecast for a 2013/14 operating profit growth of 11 percent at constant currency exchange rates. (Reporting by Dominique Vidalon; Editing by Leila Abboud)

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