On Wednesday, French catering giant Elior (ELIOR.PA) upped its annual sales target but decreased profit prediction due to slower volume growth and inflationary pressures.
Europe’s third-largest contract caterer expects organic revenue growth of 10% in 2022-23, up from 8% previously.
However, its adjusted earnings before interest, taxes, and amortization (EBITA) margin will be lower than its initial range of 1.5% to 2%.
“Volume growth will slow after the post-Omicron catch-up that took place in the first half,” the group stated in an earnings statement.
It said food inflation would ease later than expected.
