SSP Group on track to hit like-for-like growth targets of 2% to 3%

SSP Group, the operator of food and beverage outlets in travel locations worldwide, has assured investors that its expectations for like-for-like sales growth in the full year remain unchanged at between 2% and 3%.

The company reiterated its forecast in a Q4 pre-close trading update for the three months from July 1 to September 30.

It said that trading in the fourth quarter has been in line with its expectations, with like-for-like sales growth continuing at a similar level to that seen in the third quarter.

“Like-for-like sales growth has been driven largely by increased passenger numbers in the air sector. Trading in the rail sector has remained soft during the year,” it stated.

Net contract gains for the full year are expected to be around the top end of the previously announced range of 4.5% to 5%.

The acquisitions of TFS in India and Stockheim are performing well and are expected to add approximately 1.5% to revenue in the full year, SSP added.

Looking forward, while a degree of uncertainty always exists around passenger numbers in the short term, the company said it is well-placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value.

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