Sodexo: The catering company’s revenue increased by 18.3%

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French catering and food services company Sodexo reported better-than-expected third-quarter earnings with strong growth across all business lines and geographies, driven mainly by price increases and volume recovery post-Omicron.

The French company’s revenue rose 18.3% to 5.52 billion euros in the quarter to May 31, against average estimates of 5.33 billion euros.

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Sodexo, which provides catering services to businesses, industrial sites, the military, government agencies, hospitals, schools and sporting events, also confirmed full-use estimates, which it had downgraded in April.

The group said its corporate services business continued to benefit from people returning to the office, while activity also picked up in the entertainment, sports and universities sectors as events and retail outlets reopened.

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Source: Capital

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