SSP Group lifted by restaurant air sector growth

Mi Casa Burritos

SSP Group, the operator of food and beverage outlets in travel locations, said that passenger growth in the air sector lifted its third quarter sales by 5% year-on-year and 3% on a like-for-like basis.

At actual exchange rates, given the weakening of sterling against major European currencies compared with the same period in the prior year, total group revenues rose 9% year-on-year.

The firm said in Continental Europe the picture remained “mixed”, with good performances in Spain and a weaker trading environment in France and Belgium resulting from the ongoing impact of the geopolitical incidents in Paris and Brussels and industrial action.

In North America, good like-for-like sales growth is being driven by passenger growth in the air sector, SSP revealed. Elsewhere it said that like-for-like sales continued to be impacted by the fall in passenger numbers in Egypt and the ongoing slowdown in passenger growth in China.

SSP said the second half of the financial year had started in line with its expectations. “Whilst a degree of uncertainty always exists around passenger numbers in the short term, we are well-placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value,” the company stated.

SSP operates branded food and beverage outlets in travel locations across 29 countries. It runs sites in 125 airports and more than 270 rail stations worldwide.

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