BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Sodexo (SDXAY.PK) reported that its first half profit to equity holders of parent declined to 33 million euros from 378 million euros, previous year. Earnings per share was 0.22 euros compared to 2.55 euros. Underlying net profit declined to 128 million euros from 424 million euros. Underlying EPS was 0.87 euros compared to 2.91 euros.
First half revenue was 8.59 billion euros compared to 11.69 billion euros, previous year. Group revenue was down 26.5%, significantly impacted by the Covid-19 crisis. Group organic revenue declined 21.7%.
For the second-half, the company projects: organic growth between 10 and 15%. Second half underlying operating margin is anticipated to be around 3.1%, at constant rates.
Sodexo CEO Denis Machuel said: 'Our actions to renegotiate our client contracts, strictly control our costs, and implement the GET restructuring program are clearly visible in our better than expected underlying operating profit margin of 3.1%.'
Copyright RTT News/dpa-AFX