Pluxee rises after smaller-than-expected Q3 revenue decline
BUZZ-Pluxee rises after smaller-than-expected Q3 revenue decline ** Shares in Pluxee rise 5% after the French voucher company posted a smaller-than-expected Q3 organic sales decline
** Pluxee's Q3 sales decline 3.3% organically to €312 million ($357 million), beating the €299 million consensus estimate, which Pluxee attributes to new client wins
** Jefferies and J.P. Morgan say the beat was driven by favourable currency effects, with Jefferies also pointing to the phasing of the Brazil regulation impact
** JPM also flags business volume issued trends well across employee benefits biz and other products & services, while float income also "held up well"
** Jefferies, however, adds that unfavourable macroeconomic conditions in Continental Europe and headwinds from public benefits contracts continue to pressure the firm's operating revenue
** Up to Thursday's session close, the stock was down 13.2% YTD, after a 28.4% decline in 2025
** Peer Edenred EDEN.PA edges up 2.2%
($1 = 0.8732 euros)
(Reporting by Zakarya Meliani and Mathias de Rozario)