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Meal voucher group Edenred posts higher sales and keeps targets
April 18, 2017 / 4:04 PM / 4 months ago

Meal voucher group Edenred posts higher sales and keeps targets

PARIS, April 18 (Reuters) - French meal voucher and card provider company Edenred on Tuesday maintained its financial targets as it reported a rise in first quarter sales, mirroring a similar performance from larger rival Sodexo .

Edenred said first quarter revenues had risen 29.6 percent from the previous year to 322.7 million euros ($345 million), with the turnover boosted by its earlier acquisitions of companies Embratec and UTA.

Last week, Edenred's peer Sodexo had also reported higher first-half earnings and had maintained its target for annual sales and profit growth.

Edenred said it was keeping its 2017 financial goals of like-for-like growth of more than 7 percent in operating revenue.

The company's shares closed down 1.9 percent at 22.44 euros, although the stock remains up by around 20 percent since the start of 2017.

$1 = 0.9345 euros Reporting by Sudip Kar-Gupta; Editing by Bate Felix

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