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domingo, 24 de abril de 2011

UPDATE 1-Latam lifts Edenred Q1 sales, Europe mixed

* Q1 revenue 249 mln euros, up 7.2 pct l-f-l

* Q1 vouchers issue volume up 9 pct l-f-l

(adds background, details)

PARIS, April 18 (Reuters) - French vouchers and prepaid cards group Edenred (EDEN.PA) posted a 7.2 percent rise in first-quarter sales, lifted by robust demand in Latin America.

The company, which owns the Ticket Restaurant brand of meal vouchers, said trends in Europe remained mixed, with unemployment stabilising in western Europe but central Europe still difficult

Closely watched issue volume -- the face value of its vouchers and the amount put on its prepaid cards -- rose 9 percent in the quarter on a like-for-like basis.

Total revenue reached 249 million euros ($356.9 million) in the quarter, Edenred said on Monday.

Edenred competes with catering services groups Sodexo (EXHO.PA) and Compass Group (CPG.L), as well as card companies Mastercard (MA.N) and Visa (V.N).

Edenred split from hotels group Accor (ACCP.PA) on July 2, in the largest listing of a French company on the Euronext exchange in two years. [ID:nLDE6610D0]

Edenred shares closed down 3.37 percent on Monday, giving the company a market value of 4 billion euros. The first quarter sales were disclosed after the close of trading.

Earlier this month, Edenred denied that it was in contact with Britain's Compass Group (CPG.L), the world's biggest caterer, amid speculation it was in talks about a tie-up. [ID:nLDE7370VW]

(Reporting by Dominique Vidalon)

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