Global foodservice and facilities management company Sodexo has reported a 2.9% decline in group revenues for nine months ending 31 May 2018.
According to the company, the weakness of the US dollar and the Brazilian real has shown a 6.6% impact on its revenues.
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However, the foodservice company has seen a positive growth from various other factors including a 2.2% contribution from net acquisitions, 1.6% from organic revenues, 1.5% for on-site services and 4.2% for benefits and rewards services.
Sodexo has also reported a 2.7% decline in revenues of its on-site services to €14.908bn, compared to €15.314bn for the same period.
Alternatively, the international company has reported a 4.2% increase in organic revenues of business & administrations services to €8.094bn, compared to €7.883bn the prior year.
Sodexo CEO Denis Machuel said: “Revenues in the third quarter were in line with our revised expectations. On-site services’ organic growth remained soft, as anticipated, and benefits & rewards services improved slightly.
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By GlobalData“Across our services, we have seen particularly strong growth across Asia and Latin America. The key actions we identified to improve short-term performance and to drive growth in the longer term are being rolled out across the group.
“While it is still early in this process, we remain confident in the benefits that they will deliver and the growth opportunities that are available to us. We are maintaining our revised guidance for the current fiscal year.”
