Contract catering giant Sodexho Alliance expects to grow net profits by five per cent in the next 12 months.

The company's optimistic directors said that,based on the prevailing economic climate, growth should at least maintain levels of the current year.

Operating profit for next year is forecast to grow from €514m (£358m) to €550m (383m), which is in line with Sodexho's target operating margin of 4.6 per cent of sales.

The company did admit, however, that it would need to make a number of improvements to its operations in order to meet its targets. Top of the list are the encouragement of “transparency and communication” and the reinforcement of control.