Sodexo Up in Fiscal Half

Sodexo reported North American revenues of 3.1 billion euro in the first half of its 2009 fiscal year, an organic growth rate of 3.9%. A favorable average exchange rate between the U.S. dollar and the euro also added 8.4% to the total growth.

Among individual segments, Corporate Services (B&I) declined 4.7%, though new Facilities Management services business, such as a contract with Procter & Gamble, partly offset the decline in dining customers. Recent new contract wins in B&I include the Chicago Botanical Gardens and the Indianapolis Museum of Art.

The Healthcare segment posted organic revenue growth of 6.9% mainly from increased existing site sales and from the increased contribution of contracts started the previous year.

Organic revenue growth of 6.1% in the Education segment was 2% higher than the first half of Fiscal 2008. Sodexo attributes the increase to higher university enrollment and student participation in school dining programs; high client retention levels and several major new contracts, such as Armstrong Atlantic University and San Juan College.