Weak currencies hit Edenred H1 profit
PARIS, July 24 (Reuters) - French voucher and prepaid card provider Edenred posted a 6.7 percent decline in first-half operating profit on Thursday that it blamed on weaker exchange rates, notably in Brazil and Venezuela.
The owner of the Ticket Restaurant brand said currency effects should be less severe in the second half and predicted full-year earnings before interest and tax (EBIT) would be between 335 million and 350 million euros against 343 million in 2013.
The forecast compares with market expectations of 350 million euros ($471 million) for full-year EBIT, Thomson Reuters I/B/E/S data showed.
Edenred said EBIT reached 148 million euros in the first half. This was a like-for-like rise, excluding currency impacts, acquisitions and divestments, of 13.2 percent, driven by a robust performance in Latin America. ($1 = 0.7431 Euros) (Reporting by Dominique Vidalon; Editing by James Regan)
© Thomson Reuters 2017 All rights reserved.