Teleperformance now targets organic sales growth of around 2% to 4% this year, a 10-20 basis point (bps) increase in recurring EBITA margin and an increase in net free cash flow.

"All the major players have significantly reduced their forecasts," Group CFO Olivier Rigaudy said on a call with journalists. "We're cautious."

The outsourcing group trimmed its full-year like-for-like revenue growth target three times last year, from 10% to around 6% by November, citing adverse macroeconomic conditions in the United States.

Revenue rose 5.1% to 8.35 billion euros ($9.10 billion) in 2023 on an organic basis. The group's EBITA margin rose 40 basis points to 15.9%, roughly in line with its full-year target.

The Group, which launched a 500 million euro share buyback programme in August, said it would not rule out further programmes in the future if its share price continued to not reflect the strength of its business model.

($1 = 0.9179 euros)

(Reporting by Augustin Turpin in Gdansk)