Sodexo: Q3 sales down 30% in organic terms
(CercleFinance.com) - Sodexo has announced Q3 2019-20 sales of 3,910 million euros, down 31.
2% as reported and down 29.9% in organic terms, albeit with this fall less than the initial forecast of -33% announced in April.
The group, which nevertheless claims resilience in its facilities management business, adds that the decline in underlying operating profit resulting from the fall in sales has decreased every month and is now below the forecast of 25% announced in April.
In Q4 Sodexo expects sales to fall by around 27% (vs. original hypothesis of 15% in April). The decline in sales in H2 is therefore expected to be 28%, or 3 billion euros, or -13.7% for the full year.
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2% as reported and down 29.9% in organic terms, albeit with this fall less than the initial forecast of -33% announced in April.
The group, which nevertheless claims resilience in its facilities management business, adds that the decline in underlying operating profit resulting from the fall in sales has decreased every month and is now below the forecast of 25% announced in April.
In Q4 Sodexo expects sales to fall by around 27% (vs. original hypothesis of 15% in April). The decline in sales in H2 is therefore expected to be 28%, or 3 billion euros, or -13.7% for the full year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.