PARIS, April 14 (Reuters) - French vouchers and prepaid cards group Edenred posted on Thursday a 5.2 percent rise in first-quarter revenue on a like-for-like basis and confirmed its 2016 growth target.
The company, which owns the Ticket Restaurant brand, has said that given that Brazilian economy showed no signs of recovery, it expected in 2016 to be at the lower end of an historic target of generating growth of between 8 and 14 percent in vouchers issue volume per year.
The issue volume was up 7.4 percent like-for-like to 4.284 billion euros.
“This performance reflects the acceleration of growth in Europe and sustained growth in Latin America despite a difficult economic environment in Brazil and a high basis of comparison in Mexico in the first quarter of 2015,” the company said in a statement.
Reporting by Maya Nikolaeva and Dominique Vidalon; Editing by Leigh Thomas