December 9, 2016 / 6:33 AM / a year ago

Elior FY revenue, profits rise, eyes further growth

PARIS, Dec 9 (Reuters) - Europe’s third-largest catering group Elior on Friday reported higher revenue and core profits for fiscal year 2015-16, thanks to its catering business and international operations, and handed investors a 31.3 percent dividend hike.

Elior, which competes with France’s Sodexo and Britain’s Compass, said organic revenue, excluding the impact of voluntary contract exits, rose 3.1 percent in the twelve months to Sept. 30, in line with a company’s target of 3 percent or above.

Earnings before interest, tax depreciation and amortisation (EBITDA) rose 5.5 percent to 501 million euros ($531.76 million), giving a margin of 8.6 percent of revenue.

For the 2016/17 fiscal year, Elior, whose clients range from the Vatican museum to France’s La Poste and Los Angeles airport, expects organic revenue growth of at least 3 percent, an increase in EBITDA margin of between 20 and 30 basis points, excluding acquisitions, and a significant rise in EBITDA and adjusted net earnings per share. ($1 = 0.9422 euros) (Reporting by Dominique Vidalon; Editing by Mathieu Rosemain)

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