The Caterer

Sodexho aims for global expertise in three markets

23 November 2006
Sodexho aims for global expertise in three markets

The group chief executive of Sodexho has pointed to a diverse future built on expertise in the contract catering, facilities management and voucher card markets.

At the group's 2006 end-of-year results presentation last week, Michel Landel said Sodexho aimed to become the "global expert" in the three markets.

It reported strong year-end figures that saw pre-tax profit grow by 51.6% to €505m (£343m) on the back of a 6.6% rise in turnover to €12.8b (£8.7b).

• US caterer Aramark also announced its year-end figures last week and said the management buyout, led by chief executive Joseph Neubauer, would happen late this year or in early 2007.

Turnover rose by 6% to $11.6b (£6.1b), while net income dipped slightly from $288m (£152m) to $261m (£138m).

Michael Schneider, analyst at US company Robert W Baird, said the Aramark figures were "below expectations" and partly due to the fees related to the pending buyout.

Although no UK breakdown was provided, Caterer revealed two weeks ago that turnover was about £350m.

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