(Refiles to fix typo in “economic” in headline)
PARIS, Nov 19 (Reuters) - French catering-to-vouchers group Sodexo said on Thursday it would further cut costs to cope with a volatile global economy, notably a slowdown in Brazil and a halting recovery in Europe.
The world’s No.2 catering services company, after Britain’s Compass Group, also posted a rise of 2.5 percent in like-for-like revenue, to 19.815 billion euros ($21.21 billion) in the fiscal year ended August 31, thanks to contract wins in facilities management and in North America.
Operating profit before exceptional items rose 11.9 percent to 1.143 billion euros from 966 million a year earlier, beating the group’s guidance for a rise of 10 percent, Sodexo said in a statement.
Sodexo was expected to post revenue of 19.716 billion euros and operating profit of 1.114 billion, according to Thomson Reuters I/B/E/S.
For the fiscal year 2015-16, Sodexo forecast underlying revenue growth of around 3 percent and a rise in operating profit, excluding currency effects, of around 8 percent. ($1=0.9342 euros) (Reporting by Dominique Vidalon; Editing by Clarence Fernandez)