The Rugby World Cup helped boost Sodexho first quarter earnings

Rugby World Cup lifts Sodexho

9th January 2008, 11:04am

Sodexho Alliance has announced first quarter like-for-like sales up by 10.9%, with the Rugby World Cup cited as part of the reason for the rise.

The worldwide catering and services group reported sales for the three months to November 30th 2007 were £2.818 billion, up from £2.66bn for the same period in 2006.

Chief executive Michel Landel said in a statement the results included a jump in food and facilities management (fm) sales of 41.1% in the UK as a result of contracts held by its event catering arm Sodexho Prestige to provide services for the Rugby World Cup that was played in France, Scotland and Wales during September and October.

The group's catering sales alone achieved a like-for-like rise of 10.8% worldwide to £2.728 bn.

Landel said Sodexho was on track to improve its top line again this year by at least 7%, in line with targets announced in November.

In Fiscal 2007 Sodexho achieved record figures, including £9.9 billion in turnover, an 8.4% rise, while operating profit jumped 14.5% to £479 million.

In the UK Sodexho's operation provides meals at 800 schools, four prisons and a host of B&I clients, including blue chip companies such as HSBC, Ford and Glax Smith Kline. It's Sodexho Prestige arm caters for a number of high profile venues and events such as Royal Ascot and the Chelsea Flower Show.

That means UK sales account for 11% of group revenues and 8% of earnings before interest and tax.

Related Articles:

• 17 Aug 2010 - Rugby Travel & Hospitality Ltd extend partnership with Rugby World Cup

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