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Business

REUTERS
December 7, 2017

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Elior targets further growth

PARIS: Elior, Europe´s third-largest catering group, predicted on Wednesday that organic sales growth would accelerate to at least 3 percent in the 2017/18 fiscal year from 2.3 percent achieved in the 2016/17 fiscal year ended Sept. 30.Elior, which competes with France´s Sodexo and Britain´s Compass, also predicted that its adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) margin would remain stable in the current year after declining by 20 basis points in the 2016/17 fiscal year. The company made the forecasts after reporting that revenues rose by a reported 8.9 percent to 6.422 billion euros ($7.59 billion) in the year ended Sept. 30, helped by acquisitions.

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