Sodexho ups forecast but UK still down

08 July 2004
Sodexho ups forecast but UK still down

Contract caterer Sodexho Alliance has upped its global sales forecast for the year, but its UK division continues to lag behind.

At the beginning of the year Sodexho predicted organic sales growth of 3.1% for the financial year to the end of August 2004.

It now says that figure will be "closer to 4%".

The prediction came as Sodexho revealed sales figures for the first nine months of this finacial year.

Although total sales fell by 2.4% to €8.85b, once the effect of currency fluctuations is removed the figure actually represents organic sales growth of 4.5%.

Organic sales growth in food and management services was 4.4% in North America, 4.7% in continental Europe and 18.8% in the rest of the world.

But in the UK & Ireland, sales fell by 6%.

The company said of its UK division: "The top priority remains the return of the subsidiary to profitability."

It pointed to several recent contract wins in the UK, including one across 18 sites for the HBOS banking group, which would bring in additional sales.

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