Sodexo reported a slightly lower-than-expected rise in third-quarter sales on Tuesday, citing the impact of an accounting change on a "significant" energy contract in Australia.

The French foodservice group also cited in a statement a deceleration in price increases, as well as calendar effects and a higher basis of comparison for the period to explain the sequential slowdown in growth compared with the second quarter.

Sodexo, which spun off its Pluxee employee benefits business in early February, continues to raise prices to cushion the effects of inflation, but at a slower pace.

In a press release, the group states that around half of organic growth is driven by price increases, which fell below 4% in the quarter, compared with 5% last year.

Sodexo posted sales of 6.07 billion euros for the three months from March to May, up 6.8% organically year-on-year and below analysts' expectations, who were counting on results of 6.11 billion euros in a consensus compiled by Sodexo. (Written by Pauline Foret with Diana Mandia and Dimitri Rhodes, edited by Augustin Turpin)