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July 17, 2018

Revenue up for SSP – Q3 trading results published today

International food and drink travel operator SSP Group has today (17 June) published its third quarter trading update – revealing a 7.3% increase in total group revenue for the three months from 1 April to 30 June.

By Maria Bracken

International food and drink travel operator SSP Group has today (17 June) published its third quarter trading update – revealing a 7.3% increase in total group revenue for the three months from 1 April to 30 June.

Pleased with its results, SSP said it was a ‘good’ quarter and that it has made ‘further encouraging progress.’ Highlights include:

Total group revenue up by 7.3%
Like-for-like sales growth of 2.7%,
Net contract gains of 3.3%

Attributing the ’on-going growth in the air sector,’ SSP said like-for-like sales growth in North America was good, and that it was ‘broadly in line’ with that seen in the first half of the year in the UK and Continental Europe.

It also reported ‘good’ LFL sales growth in the rest of the world, including Hong Kong, Egypt and India, where “trends seen in the first half continued into the third quarter.”
Looking ahead, the group said it is “well placed to continue to benefit from the structural growth opportunities in its markets and to create further shareholder value,” but is cautious that a “degree of uncertainty always exists around passenger numbers in the short term.”

With its financial year ending 30 September, SSP anticipates group like-for-like sales growth to ‘remain in the region of 2% to 3%.’

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