(Reuters) – French catering group Sodexo on Friday again raised its annual revenue growth target for its Benefits and Rewards services unit.
“Pluxee’s third-quarter growth exceeded expectations, driven by strong underlying demand, amplified by the significant rise in face values and interest rates,” CEO Sophie Bellon said in the statement.
Recently renamed Pluxee, Sodexo’s coupon unit is to be spun off and will list in 2024. The company plans to hire around 1,000 people for its technology and data operations to tap into a growing market.
For Pluxee, the company now expects organic revenue growth above 20% and an operating margin above 32%, at constant rates, in fiscal year 2023 through August.
The group had already raised its forecasts for the activity in April, targeting organic growth in turnover close to 20% and an underlying operating margin close to 32%.
Sodexo’s full-year outlook has also been refined, with an underlying operating margin expected at 5.5%, compared to a forecast close to 5.5% previously forecast.
The group’s total revenue in the third quarter came to 6.03 billion euros, slightly above the 6.02 billion euros expected by analysts polled by the company.
(Report Diana Mandiá in Gdansk; Gaëlle Sheehan)
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