Sodexo Profit Drops 16%

French company Sodexo

reported a 16% drop in its net profit for the fiscal year ended August 31. Sodexo's net profit for the year declined to 439 million euros ($593 million), versus EUR525 million, in the year-ago period. Its overall revenue climbed to EUR18.40 billion from EUR18.24 billion, while operating profit fell to EUR953 million from EUR958 million. Sodexo shares closed at $97.75 yesterday.