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Profits up 19% at Elior

13 December 2005 by
Profits up 19% at Elior

French caterer Elior has announced a 19.3% jump in pre-tax profits to €140.4m (£94.7m) in the year to 30 September 2005.

The figure, which was in line with City expectations, came on the back of €2.83b (£1.94b) in turnover, up from £1.71b in 2004.

Elior chairman Robert Zolade said the company had met its targets and now planned to step up the pace of progress.

"Our ambition is to accelerate the rate of our organic growth, in particular outside France, as well as the pace of acquisitions and partnerships in our growing markets which are rich in opportunities," he said.

Dresdner Kleinwort Wasserstein analyst Karl Green said the opportunities were likely to include a bid for Compass travel concession business SSP.

Green said: "It's clear the Elior will come up with an imaginative bid for all or part of the group. The geographical fit between the two is very good."

By Tom Bill

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