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Sodexo Profit Rises In 2011, Outlook Upbeat For 2012

Posted On: 11/17/2011

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Sodexo, fiscal year, Sodexho, vending machine business, vending business, food service, contract services, managed services industry

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%.