Skip navigation

Strong Euro Hits Sodexo 1Q Numbers

Sodexo reported a drop in fiscal first-quarter sales of 1.9% due to exchange rate effects brought on by a strong Euro.

Sodexo reported a drop in fiscal first-quarter sales of 1.9% due to exchange rate effects brought on by a strong Euro relative to the dollar, British pound and Brazilian real, reports the Wall Street Journal. The currency swing cost the company a 4.9% hit on its revenue figure, which more than offset an actual sales growth (minus exchange rates and mergers/acquisitions) of 2.7%. The best performance overall was posted by the dollar-based U.S. unit, which saw a sales rise of 5.1% during the quarter.

TAGS: Sodexo
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish