Excludingthis impact growth would have been 9

Kovic delivers college recruiting presentations nationwide and he is a regular contributor to several online magazines and professional organizations. For further information visit: This article is also featured on Victory Collegiate Consulting. 2008/09 Q1 sales up 5.6 pct at 3.98 bln eur Stocks China Company retains FY sales, profit targets Sees higher demand for outsourcing through crisis Shares rise as much as 3.9 pct (Adds share price, CEO comments) By James Regan PARIS, Jan 7 (Reuters) - French contract catering andservices group Sodexo (EXHO.PA) posted a 5.6 percent rise infirst-quarter sales and kept its full-year goals as it seeshigher demand for outsourcing through the financial crisis.Total sales were 3.98 billion euros ($5.33 billion) in thethree months ended Nov. 30, up from 3.76 billion a year earlierfor organic growth of 3.2 percent, Sodexo said on Wednesday.Growth was driven by its North American business. Itcontinued to aim for an operating profit of 730 million to 760million euros The targets are based on constant currency rates. "It's reasonable to be confident, but it's also reasonableto be realistic, and I think we are realistic when we give youthis kind of outlook," Sodexo Chief Executive Michel Landel tolda conference call. He added that he still expected the group to return to 7percent average annual revenue growth through 2015 following thecrisis. Shares in the company rose as much as 3.9 percent to 42.43euros on Wednesday and were 3.5 percent higher at 0828 GMT Thestock has risen 12 percent in the last month.

"There is a slowdown compared to the fourth quarter, butit's limited and has been compensated by price rises and goodperformances in the restaurant vouchers business," OddoSecurities analyst Guillaume Rascoussier said. Sodexo operates in some 80 countries and its businessincludes food and facilities management services for clientssuch as universities and hospitals, as well as providing foodand gift vouchers. Sodexo's Landel said the financial crisis could lead to anincrease in demand for outsourcing as some customers struggle tocut costs. "We will see more layoffs, we will see retail salesdeclining, it's obvious," Landel said "We see that globally. Wehave started to see some signs in Asia, particularly in China.We will continue to see factory closures and things like that." UK Rival Compass Group (CPG.L), the world's biggest caterer,said in late November there were signs then that manyorganisations wanted to take out costs and were outsourcing moreand more amid the economic downturn.

Compass Group's shares have added 21 percent in the lastmonth, but it trades at some 14 times estimated fiscal 2009earnings, lagging a multiple of over 16 for Sodexo. North America contributed 11 percent growth as buoyanthealthcare and education contracts more than offset a 2.3percent decline in corporate services business in "anincreasingly difficult economic environment", Sodexo said. In the UK and Ireland, Sodexo saw quarterly revenue drop 32percent compared to a year-earlier period when it benefited fromhospitality business related to the Rugby World Cup. Excludingthis impact, growth would have been 9.1 percent, Sodexo said Growth outside Europe and North America was 17.4 percent. Sodexo's much smaller service vouchers and cards divisionposted a 47 percent rise in first-quarter sales to 181 millioneuros, boosted by acquisitions including Grupo VR's voucherbusiness in Brazil. ($1.7466 Euro) (Additional reporting by Noelle Mennella; Editing by JohnStonestreet and Rupert Winchester) Stocks China. Since the Michigan football team doesn't have to worry about preparing for a bowl game for the second season in a row, their second "Silly Season" is underway in Ann Arbor, and the coaches are getting a quick jump on things.