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Sodexo sees 2% annual rise in revenue

Sodexo has reported results for its fiscal year ended 31 August 2018, showing organic revenue growth of 2%, excluding the 53rd week, and underlying operating margin rose by 5.7%.

The global company saw organic revenue growth of 1.4% for On-site Services, or 1.9% excluding the 53rd week.

Benefits & Rewards Services saw organic revenue growth at 5.1%. Organic growth in Europe reached 7.5%. In Latin America, organic growth was 2.4%, with a turnaround in Brazil in the second half.

Sean Haley, regional chairman for Sodexo UK and Ireland, (pictured) said, “The market has remained highly competitive in the UK and Ireland with continued emphasis on price and increased scrutiny on the value of outsourcing particularly in the public sector.

'Our investment in our people, consumer insight and acquisitions, supported by our sustainable and ethical business practices, has helped us to win business across all our sectors.

“We have achieved renewed growth in our education business winning state school contracts, such as Wellspring Academy Trust and Great Western Academy, by developing our food offer with insight from school children.'

Haley, continued, 'Our acquisition of the Good Eating Company has strengthened our corporate services business with significant wins such as Nomura. In our government business, we won the largest integrator contract in the public sector with the Department of Work & Pensions.

'We have also continued to invest in client feedback and developing strategic partnerships which has contributed to over 95% retention across our business and successful extensions such as Coca Cola and Chesterfield Royal Hospital.'

Haley concluded, “In the coming year, we expect the market to remain competitive but we anticipate greater emphasis on quality and value by clients and consumers. We will continue to invest in our people, our values and doing business the right way to achieve continued growth across all sectors.”