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Sodexo fiscal Q4 profit climbs 58.4% YOY

Sodexo SA said its normalized net income for the fiscal fourth quarter ended Aug. 31 came to €1.42 per share, a gain of 61.1% from 88 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €213.4 million, a gain of 58.4% from €134.8 million in the prior-year period.

The normalized profit margin climbed to 4.2% from 2.8% in the year-earlier period.

Total revenue grew year over year to €5.03 billion from €4.82 billion, and total operating expenses climbed year over year to €4.66 billion from €4.59 billion.

Reported net income increased 35.3% year over year to €187.5 million, or €1.25 per share, from €138.6 million, or 91 cents per share.

For the year, the company's normalized net income totaled €4.99 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €5.21.

EPS rose from €4.01 in the prior year.

Normalized net income was €754.3 million, a gain from €614.1 million in the prior year.

Full-year total revenue increased on an annual basis to €20.70 billion from €20.25 billion, and total operating expenses rose year over year to €19.38 billion from €19.15 billion.

The company said reported net income increased on an annual basis to €723.6 million, or €4.79 per share, in the full year, from €636.3 million, or €4.15 per share.