Sodexo 3Q Growth Fueled By Facility Management Services

Sodexo's revenue grew 2.3% in the first nine months of its 2013 fiscal year, with its facilities management services leading the way while foodservice operations declined. Total revenue for the nine-month period ended May 31 was $18.8 billion, up from $18.1 billion in the first three months of fiscal 2012.

"Facilities management services continued to deliver gains exceeding growth in foodservices in every region, confirming the validity of the Group’s positioning," the company said in a statement announcing the results. "The fiscal year continues to be shaped by a decline in foodservices volumes and rising pressure from clients seeking to lower costs."

In addition, Sodexo noted increased demands from corporate clients in North America and Europe for integrated Quality of Life Services contracts. "Our Quality of Life Services offer is well aligned with the needs of our clients, who are looking for an extensive range of services for their facilities around the world," noted CEO Michel Landel.