Catering group Sodexo lifts forecasts on return to schools

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The Paris-based company said it now expects an operating profit margin of 3.5% for the six months ended August 31, compared with 3.1% forecast earlier.

Revenue is now estimated to rise 15% on a like-to-like basis, versus the previous outlook of 10% to 15% growth.

Analysts had expected Sodexo to post sales up 15.5% for the second half, according to consensus estimates cited by Midcap Partners.

“We remain convinced that once vaccination is rolled out, our activities will rapidly come back to pre-COVID levels,” Chief Executive Denis Machuel said in a statement.