Shares down over 10% (Il Sole 24 Ore Radiocor) - Paris, 04 Jul - Shares in Pluxee, the employment benefit company spun off from the French catering giant Sodexo, were down sharply after the company reported lower-than-expected revenue growth in its fiscal third quarter.

At 0943 GMT, Pluxee was down 10.46% at 25.245 euros.

The company said that third-quarter total revenue totalled 297 million euros, up a reported 13.8% and an organic 17.9%.

Analysts were expecting revenue to rise a reported 16%.

Operating revenue was 257 million euros, up a reported 9.1% and 11.4% organically.

Pluxee upgraded its organic revenue growth objective for fiscal 2024 to about 18%, from 15-17% previously. It confirmed its full-year recurring EBITDA margin objective of at least 35%, including standalone costs.

The bank Bernstein noted that the new forecast is not much higher than the 17.9% growth the market was already expecting.

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(RADIOCOR) 04-07-24 11:47:15 (0279) 5 NNNN