July 22, 2016 / 5:17 AM / 2 years ago

Edenred eyes higher profit in 2016

PARIS, July 22 (Reuters) - French voucher and prepaid card provider Edenred said on Friday it expected a rise in full-year operating profit helped by stronger growth in its European business and improving trends in Latin America, despite a challenging economic climate in its key market of Brazil.

The owner of the Ticket Restaurant brand predicted full-year earnings before interest and tax (EBIT) would be between 350 million and 370 million euros ($408.11 million) against 341 million euros in 2015.

The forecast compares with average market expectations of 359 million euros for full-year EBIT, Thomson Reuters I/B/E/S data show.

Edenred said EBIT reached 161 million euros in the first half. This was a like-for-like rise of 13 percent, excluding currency impacts, acquisitions and divestments.

On a reported basis operating profit was down 2.2 percent as lower Brazilian real and Mexican peso weighed. ($1 = 0.9066 euros) (Reporting by Dominique Vidalon; Editing by Maya Nikolaeva)

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