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French catering group Sodexo lags Q3 sales expectations

by Uma
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French catering group Sodexo lags Q3 sales expectations

French catering group Sodexo lags Q3 sales expectations

(Reuters) – French food caterer Sodexo reported slightly lower than expected third-quarter sales on Tuesday, citing a change in how it accounts for project works related to a large contract in its Rest of the World segment.

Its third-quarter revenue rose 6.8% organically from a year earlier to 6.07 billion euros ($6.51 billion), missing a consensus forecast of 6.11 billion euros provided by the company.

The group, which will provide catering for the Paris Olympic Games and the Paralympics this summer, also confirmed its 2024 outlook.

($1 = 0.9319 euros)

 

(Reporting by Dimitri Rhodes and Diana Mandiá in Gdansk; editing by Milla Nissi)