Sodexho forecasts profits growth

14 November 2003 by
Sodexho forecasts profits growth

Contract catering giant Sodexho Alliance has told analysts that it expects to grow net profits by 5% in the following year.

In an upbeat forecast, Sodexho directors said that, based on today's economic climate, organic growth should be equal to that of the current year.

Operating profit for next year is forecast to grow from €514m (£358m) to €550m (383m), in line with its target operating margin of 4.6% of sales.

However, the company said that in order to meet these targets it would need to make a number of improvements to its operations. These included encouraging "transparency and communication" and to "reinforce control".

Last year its UK operations were marred by accounting irregularities which set its objectives back by a year.

Sodexho reported its full-year financial results last month.

by Christina Golding

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