Catering group Sodexo beats first-quarter revenue forecast as schools reopen

French catering and food services group Sodexo (EXHO.PA) reported on Thursday a 17.5% jump in its first-quarter organic sales, helped by the reopening of schools and universities as countries gradually eased COVID-19 restrictions.

The caterer, which operates in 56 countries, reported a revenue of 5.26 billion euros ($5.95 billion) during September-November, slightly above analysts’ average estimates of 5.24 billion euros in a company-provided consensus.

The Paris-based firm, one of the world’s biggest catering companies alongside Britain’s Compass (CPG.L), said it was too early to estimate whether new sanitary measures to contain the spread of the Omicron coronavirus variant will have an impact on its outlook.

“At this stage, we maintain our annual guidance and remain confident in the continued recovery,” Chairwoman and interim Chief Executive Officer Sophie Bellon said in a statement.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe