Sodexo beats forecasts as turnaround gains traction after North America setbacks

Oct 23 (Reuters) - Sodexo reported stronger-than-expected full-year revenue on Friday, helped by steady demand and higher prices, as Chief Executive Thierry Delaporte pressed ahead with efforts to rebuild competitiveness after contract losses and weaker performance in the group's key North American market.

• Revenue in the fiscal year ended in August reached €23.96 billion on 2.0% organic growth, above the €23.78 billion and 1.5% organic growth expected in a company-compiled consensus poll

• Shares rose around 6% in early Paris trading

• Sodexo confirmed its fiscal 2027 forecast for 2%-3% organic revenue growth and an underlying operating margin broadly in line with 2026's 3.4%

• Underlying operating profit fell 28.9% to €810 million, but exceeded analysts' estimate of €787 million

• "Our overall performance remains below the full potential of the group," CEO Thierry Delaporte said, adding that efforts to restore competitiveness would continue in fiscal 2027

• CEO Delaporte said recent unrest in France had no material impact on the business, with France accounting for about 12% of group revenue

($1 = 0.8920 euros)

(Reporting by Ronan Corcoran and Gianluca Lo Nostro; Editing by Muralikumar Anantharaman and Matt Scuffham)