Price increases, driven by Russia's invasion of Ukraine, have boosted Edenred, whose main business is employee benefits, as the value of meal vouchers has risen to help employees to cope with soaring food prices.

The company said it was well-placed even in an economic recession as a staffing crisis means employers will seek to recruit and retain workers through company benefits.

By around 0800 GMT, shares in Edenred were up 1.2%, outperforming the wider index.

"The solutions the group offers are attracting more and more clients who view them as an opportunity to increase their employees' purchasing power, encourage more responsible behaviours or tighten their cost control", Chief Executive Officer Bertrand Dumazy said in a statement.

Employee benefits generated 528 million euros ($539.77 million) in operating revenue in first-half of the year and its Ticket Restaurant vouchers, which date back to 1962, were boosted after clients increased the face value of the coupons to reflect inflation, the company said.

In the Fleet & Mobility Solutions business, which accounted for 28% of Edenred's activity, operating revenue was 252 million euros in the first half of the year, up 24% like-for-like.

The group's operating expenses also increased, rising by 15.5% in the first-half of the year because of inflation, Dumazy said.

In a call with journalists, however, the CEO predicted the ongoing "labour shortage or the desire for change expressed by employees" would continue to drive demand for Edenred's services.

Edenred expects to achieve earnings before interest, tax, depreciation and amortisation (EBITDA) of between 770 million euros ($787.25 million) and 820 million euros for 2022, versus 670 million in 2021. The group had previously guided for EBITDA growth of more than 10% in 2022.

($1 = 0.9782 euros)

(Reporting by Diana Mandiá; Editing by Kim Coghill, Uttaresh.V and Barbara Lewis)

By Diana Mandia