Sodexo hospitality group exceeds first quarter revenue forecast as school reopens By Reuters
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(Reuters) – The French hospitality and food service group Sodexo (PA 🙂 reported on Thursday that there was a 17.5% increase in organic sales in the first quarter, helped by the reopening of schools and universities as countries gradually eased COVID-19 reductions.
The hospitality industry, which operates in 56 countries, had revenues of 5.25 billion euros ($ 5.95 billion) since September to November, analysts above average estimates of 5.24 trillion euros, according to a company statement.
The Paris-based company, along with Compass UK, said it was too early to estimate whether the new health measures to curb the spread of the Omicron coronavirus variant would affect its outlook.
“At this stage, we adhere to our annual guidelines and continue to have confidence in the ongoing recovery,” President Sophie Bellon and interim CEO said in a statement.
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