SSP full year update reveals growth across the board

28/09/2017 - 11:10
SSP Group Plc has given a trading update for the fourth quarter covering the period from 1 July to 30 September 2017 showing growth in company revenue and like-for-like sales.

The travel location food and drink operator expects revenue for the period to increase by 14.8%, lfl to grow by approximately 3% and net contract gains to increase by 8.5% compared with the same period last year.

The company said that its lfl sales were thanks to an increase in passenger numbers in the airport sector worldwide.

For the twelve-month period from 1 October 2016 to 30 September 2017, total group revenues are expected to increase by approximately 11.4% on a constant currency basis.

Full year lfl sales and net contract growth are expected to grow by 3% and 5.8% respectively.

A SSP spokesman said: “Looking forward, whilst a degree of uncertainty always exists around passenger numbers in the short term, particularly in the current environment, we are well placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value."

SSP operates branded catering and retail units at around 140 airports and 280 rail stations worldwide.

The British multinational group’s portfolio includes proprietary brands Upper Crust, Ritazza, Burger King and Starbucks.

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