SSP Q4 results: revenue up 15% despite ‘soft’ rail sector

Starbucks and Upper Crust travel sites operator SSP has announced a 14.8% increase in revenue in its fourth quarter.

While reporting ‘soft’ trading in the rail sector, the business said like-for-like sales growth in the air sector had been driven by increased passenger numbers.

In figures covering the period from 1 July to 30 September 2017, the business said like-for-like sales were up 3% year on year. At actual exchange rates, given the weakening of sterling against most currencies, group revenues for the period are expected to rise 17.5% year-on-year, said SSP.

The group's results for the year ending 30 September 2017 are due to be released on 22 November 2017, and are expected to show an 11.4% increase in revenues on a constant currency basis, including like-for-like sales growth of 3%.

“Looking forward, while 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 create further shareholder value,” stated the business.

SSP has recently opened new bakery concept Knead at London’s Euston station in partnership with Paul Hollywood. The bakery will serve breakfast butties, freshly baked pies and barista coffee every day from 7am.

“We are delighted to be working with one of the country’s most celebrated and recognised bakers to bring a concept that’s new and exciting to the people who travel through or live and work in and around Euston,” said Simon Smith, CEO of SSP UK.

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