* Q1 like-for-like revenue up 6.3 pct
* Confirms issue volume target growth of 6-14 pct
PARIS, April 16 French voucher and prepaid card
provider Edenred said on Tuesday that growth in Latin
America drove sales 6.3 percent higher on a like-for-like basis
in the first quarter, and demand in Europe was stable despite a
The group, which owns the Ticket Restaurant brand, confirmed
a closely-watched goal to generate growth of between 6 and 14
percent in issue volume per year in the medium term.
Issue volume, the face value of its vouchers and prepaid
card top-ups, rose 9.8 percent on a like-for-like basis to 4.1
billion euros ($5.4 billion) in the first quarter, while revenue
was 6.3 percent higher at 260 million euros.
Edenred said issue volume declined by just 0.3 percent in
Europe despite rising unemployment levels in several eurozone
It grew almost 19 percent in Latin America, driven by a
favourable economic environment, Edenred said in a statement.
Edenred, which also offers employee benefit management
services and incentive schemes, competes with caterers Sodexo
and Compass, as well as credit card networks
MasterCard and Visa.
Its shares have risen around 7 percent since the start of
2013. The company issued its trading update after the close of
share trading in Paris.