PARIS (dpa-AFX) - French food services and facilities management company Sodexo S.A. (SDXAY.PK) reported that its third-quarter group revenue was 3.910 billion euros, down 31.2% from last year. Currencies impacted revenues by 1.7%. Group organic revenue was down 29.9%.
Whereas food services revenue was down 44%, FM services revenue was down 2%. Benefits & Rewards revenue was down 22.8%.
The company noted that its third-quarter performance was slightly better than the April hypotheses predicting a decline in revenues of 33% and a 25% flow-through.
The company expects fourth-quarter revenues to be down about 27%, compared to original hypotheses in April of negative 15%. As a result, the second semester decline is now expected to be 28%, or around 3 billion euros and 13.7% for the full year.
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