January 9, 2013 / 6:11 AM / in 5 years

Sodexo keeps target for modest earnings rise

PARIS, Jan 9 (Reuters) - French catering and vouchers group Sodexo posted a 7.4 percent rise in first-quarter revenue, driven by growing demand for its services in emerging markets.

Sales reached 4.95 billion euros ($6.5 billion) in the period ended Nov. 30, Sodexo said on Wednesday. Like-for-like growth was 2.1 percent, including an 8.6 percent rise in countries outside Europe and North America.

The world’s second-biggest catering services company after Britain’s Compass Group reiterated its forecast for modest growth in full-year earnings.

“We are confident in our ability to seize growth opportunities in our markets, even if in the short term Sodexo’s organic growth is likely to be modest given the current economic environment, particularly in Europe,” Chief Executive Michel Landel said in a statement. (Reporting by James Regan; Editing by Chris Gallagher)

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