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Lexington acquisition helps drive positive results for Elior

11 December 2015 by
Lexington acquisition helps drive positive results for Elior

Performance in the UK, US and Spain, along with the acquisition of Lexington, has helped drive revenues at Elior to £4.1b.

In its full year figures to 30 September 2015, the group reported a 6.2% year on year revenue increase, reflecting 3% organic growth in the period.

Pre-tax profit for the year was up 6.2% at £343m.

Elior said that its international operations were boosted by growth in the US and the UK. The October 2014 acquisition of Lexington added £37m to the balance sheet, contributing 0.8% to revenue growth.

Overall in the UK it said that the business and industry market, along with healthcare and education had seen sustained growth.

Significant contracts won in the UK during the period included St Albans Cathedral.

Chairman and chief executive Philippe Salle said: "In FY 2014-2015, we not only met all of the objectives we set ourselves but actually exceeded them, with organic growth coming in at 3%. This clearly demonstrates the underlying strength of our business as well as our ability to seize growth opportunities while safeguarding our profit margins. During the year we carried out several acquisitions and launched our 2016-2020 strategic plan aimed at accelerating the group's development.

"In connection with this new strategy, three of the eight projects making up our Tsubaki transformation plan have now begun, and all of our people are focused on our strong corporate values with a view to driving our success. We expect to start reaping the benefits of this plan as from FY 2015-2016, generating profitable growth that will place us firmly on the path towards achieving our 2020 ambitions."

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