April 18, 2019 / 5:37 AM / 2 months ago

Edenred keeps 2019 guidance as first quarter revenue rises

FILE PHOTO: Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, attends a news conference to present the company's 2015 annual results in Paris, France, February 11, 2016. REUTERS/Gonzalo Fuentes

(Reuters) - French vouchers and card provider Edenred kept its guidance for 2019 unchanged on Thursday, as its total revenue rose in the first quarter amid growth in all of its divisions.

The company, which competes with Sodexo, said it still expected like-for-like operating revenue growth of more than 7 percent this year, as well as like-for-like growth in earnings before interest and tax (EBIT) of more than 9 percent.

It reported total revenue in the first quarter of 383 million euros ($433 million), up 15.3 percent from a year earlier.

JP Morgan said Edenred’s operating revenue in the quarter was around 2 percent above analysts’ consensus forecast.

“Double-digit growth has been recorded in all of our business lines and in all of the regions where we operate,” Edenred Chairman and CEO Bertrand Dumazy said in a statement.

Growth was particularly strong outside Europe, helped by the acquisition of U.S. payment solutions provider CSI.

Edenred struck several acquisition deals in 2018 and said it was looking for opportunities in other markets, including Asia.

Reporting by Boleslaw Lasocki in Gdynia; Editing by Gopakumar Warrier and Mark Potter

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