ISSY-LES-MOULINEAUX, France -- Sodexo's net income increased 10.3% in the fiscal year ended Aug. 31 as revenues grew 5.4%.
The company's net income increased to $609 million from $553 million in the previous year. Revenues for the year grew to $21.7 billion from $20.58 billion a year earlier.
Organic growth for the year was 5.2%, compared with 2.5% growth last year. The company attributed this growth primarily to its facilities management services, which represent about 25% of total revenue. Sodexo's inroads in emerging international market also spurred 2011 growth.
Revenues in North America were $8 billion in 2011, an increase of 2.6%. Organic growth in the corporate segment in improved by 1.8% compared to the previous two years.
In the North American healthcare and seniors sector, organic growth of 5.9% contrasted favorably with a 2.9% increase the prior year.
Organic growth in education was 4%, as student enrollment increased at North American university campuses.
Looking ahead to fiscal 2012, the company expects growth in organic revenues of between 5% and 8%.
