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Issue Date: Vol. 54, No. 6, June 2014, Posted On: 5/12/2014

Aramark Returns To Profit In Q2

Emily Jed
TAGS: vending, vending machine, Aramark quarterly report, Aramark Holdings Corp., Eric J. Foss, Aramark IPO, food service, coffee service

PHILADELPHIA -- Aramark Holdings Corp. reported strong sales and swung back to profit in the second quarter. Net income was $12.9 million, or 5¢ a share, for the period ended March 28, compared with a year-earlier loss of $40.1 million, or 20¢ per share. Revenue climbed 2.9% to $3.5 billion.

"We experienced growth across all segments and continued our journey to improve profitability," said Aramark president and chief executive Eric J. Foss.

Sales in the Aramark's North American food and support services segment, its largest business unit, rose 2% to $2.4 billion. Growth and new business development were particularly strong in the education, sports and leisure, and corrections sectors, Foss reported.

Unusually severe winter weather during the quarter impacted performance at a number of client locations, he noted.

Aramark's international food and support services enjoyed a 6% sales increase to $744.2 million, and its uniform apparel business saw sales rise 3.9% to $361 million.

The Philadelphia-based provider of vending, food, facilities management and uniform services went public for the third time in December, raising $725 million in its initial public offering. | READ MORE

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