SSP reports strong first quarter

SSP Group, the travel location food and drink brand operator, has reported a like-for-like (LFL) sales increase of 4.3% for its first quarter. 

SSP, which operates internationally for brands including Upper Crust and Starbucks, has reported a good start to the financial year – total revenue increased by 6.2%, and there was a LFL sales growth of 4.3% for the period ending 31 December.

Looking forwards, SSP reported: “The pipeline of new contracts is encouraging, although it is difficult to predict the precise timing of the openings of new units.”

Last year SSP won a number of important international contracts, including at Shenyang (China), Tampa (USA), Montreal (Canada) and Luxembourg airports and, at the end of the last financial year, the group said it expected these sites to open over the next two to three years.

International outlook

Globally, the fall in passenger numbers through Egypt meant trading remained challenging, but in the rest of the world, LFL sales growth was in line with expectations.

Overall the outlook was positive, with SSP reporting that growth opportunities and operational improvement “leave us well placed to continue to deliver for both our customers and our shareholders”.

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