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(Sharecast News) - Shares in France's Edenred rallied on Tuesday, after the payments specialist posted above-forecast third-quarter numbers.
Operating revenues at the voucher and benefit cards provider jumped 8.2% on a like-for-like basis to 667m, in the three months to September end. Analysts had been expecting revenues closer to 653m.
Total revenues were 6.5% higher at 726m.
The group said there had been an acceleration in growth across all business lines compared to the first two quarters.
Globally, trading improved in Europe, with underlying operating revenues rising 4.7% to 393m.
But growth was stronger in Latin America and the rest of the world, with revenues jumping 12.1% and 16.3% respectively.
Reiterating Edenred's full-year outlook, chief executive Bertrand Dumazy said: "Further increases in the face value of meal vouchers, combined with the roll-out of our employee engagement solutions and the strengthening of our mobility offering, will continue to boost Edenred's growth over the coming quarters."
The firm is currently forecasting organic growth in earnings before interest, tax, depreciation and amortisation for the full year of at least 10%, equivalent to around 1.34bn based on June exchange rates.
That includes a 60m charge in the second half, following the introduction of new merchants' commission rules in Italy.
As at 1045 BST, shares in Edenred had put on nearly 15% in Paris.
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