Sodexo: performance in line with assumptions
(CercleFinance.com) - Sodexo has announced performance in Q4 2019-20 that is in line with assumptions for the second half, published on 7 July - both for sales, the impact on operating profit and cash generated by transactions.
In anticipation of the end of governmental support programs in several countries, the group has decided to proactively take actions that should represent around 160 million euros in restructuring expenditure in H2 2019-20.
Moreover, given the deterioration in the performance of certain assets due to Covid-19, Sodexo is conducting a review of their fair value, which may lead to depreciation, without any impact on cash, of approximately 250 million euros in the second half of the year.
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In anticipation of the end of governmental support programs in several countries, the group has decided to proactively take actions that should represent around 160 million euros in restructuring expenditure in H2 2019-20.
Moreover, given the deterioration in the performance of certain assets due to Covid-19, Sodexo is conducting a review of their fair value, which may lead to depreciation, without any impact on cash, of approximately 250 million euros in the second half of the year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.