|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||18.63 - 18.76|
|52-week range||16.10 - 20.96|
|Beta (5Y monthly)||1.07|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||30 Jan 2020|
|1y target est||N/A|
(Reuters) -French catering and food services group Sodexo said on Wednesday it expects sales to accelerate in 2022 and will resume dividend payments after posting better-than-expected annual results. Sodexo cited the acceleration in cornavirus vaccination programmes across its markets as the driving force of restaurant reopenings. A boost in growth in the United States, the accelerated deployment of the new food model based on digital solutions and the active portfolio management will help Sodexo return to regular and sustained growth, it said.
Universities are struggling to hire staff as millions of students return to campus for the fall semester, with campus dining halls acutely feeling the labor shortage.
The Paris-based firm, one of the world's biggest catering companies alongside Britain's Compass, now expects an operating profit margin of 3.5% for the six months ended August 31, compared with 3.1% forecast earlier. "Sodexo has now beaten expectations for four consecutive quarters, and its guidance provides a nice set-up for this to continue in the fourth quarter," said analysts at Morgan Stanley. Sodexo benefited from a rapid COVID-19 testing centre contract in Britain, as airline lounges began to open up in North America and children returned to schools across Europe.