Vending

Sodexo surpasses expected profit margin for 2021 first half

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April 1, 2021

Sodexo SA, the Paris based global foodservice provider, reported revenue of 8.60 billion euros ($10.08 billion) for the six months ending in February, according to a Reuters report.

The company's 3.1% profit margin beat its target of 2.5%, on revenue of 8.60 billion euros ($10.08 billion), according to the report.

The company forecasted organic growth ranging between 10% and 15% for the 6-month period through August 2021, citing rapid recovery from COVID-19 as vaccination rollouts are deployed.

The company said it will remain cautious on account of a possible resurgence in coronavirus infections and does not expect significant improvement in quarter-on-quarter trends during the fiscal year.

The company had 19.3 billion euros ($22.66 billion) in fiscal 2020, according to its earnings report.

For an update on how the coronavirus pandemic has affected convenience services, click here.