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Catering group Elior keeps goals after H1 profits rise
May 30, 2017 / 5:36 AM / 6 months ago

Catering group Elior keeps goals after H1 profits rise

PARIS, May 30 (Reuters) - Elior, Europe’s third-largest catering group, reported higher first-half revenue and core profits, helped by growth overseas, and kept its full-year financial targets for an increase in sales and earnings.

Earnings before interest, tax, depreciation and amortisation(EBITDA) rose 17.9 percent to 255 million euros ($283.7 million), giving a margin of 7.9 percent of revenue.

Elior, which competes with bigger rivals Sodexo and Compass Group, said organic revenue - excluding the impact of voluntary contract exits - rose 4.2 percent in the six months to March 31.

Elior, whose clients range from the Vatican museum to France’s La Poste and Los Angeles airport, reiterated its targets for full-year organic revenue growth of at least 3 percent, an increase in its EBITDA margin of between 20 and 30 basis points, excluding acquisitions, and a significant rise in EBITDA and adjusted net earnings per share.

$1 = 0.8987 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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