February 23, 2017 / 6:31 AM / 9 months ago

Edenred FY issue volume rises 10 percent helped by Latam markets

Feb 23 (Reuters) - Prepaid voucher and card provider Edenred said on Thursday its comparable issue volume rose 10 percent in 2016, driven by growth in Latin America and its employee benefits business.

Issue volume, an indicator of the nominal value of the prepaid vouchers issued by the company, came in at 19.81 billion euros ($20.92 billion).

The company had confirmed in October that it expected like-for-like issue volume growth to be at the lower end of its historic target range of 8 to 14 percent.

Edenred, which helps companies to manage staff expenses and is best know for its “Ticket Restaurant” meal vouchers, said earnings before interest and tax (EBIT) rose 8.4 percent to 370 million euros for the full year.

For 2017, the company targets like-for-like growth of more than 7 percent in operating revenue and more than 9 percent in operating EBIT.

The company proposed a dividend of 0.62 euros, a decrease of 16 percent on the previous year. ($1 = 0.9471 euros) (Reporting by Alan Charlish; Editing by Amrutha Gayathri)

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