SSP Group reports 7.6% revenue growth in Q1
The increase in sales was boosted by the acquisition of Stockheim.
SSP Group has revealed their financial results for the first quarter of FY19 with the company’s revenue up by 7.6% on a constant currency basis.
Like-for-like (LFL) sales grew by 2.5%. Net contract gains of 3.8% are said to be “slightly ahead” of expectations, backed by contributions from North America and the Rest of the World categories.
Furthermore, the acquisition of the travelling catering business Stockheim boosted sales with a contribution of 1.3%. Total group revenue growth at actual exchange rates was 7.7%.
“The new financial year has started well and the pipeline of new contracts is encouraging,” the Group said in their Q1 trading update. “Whilst a degree of uncertainty always exists around passenger numbers in the short term, we continue to be well placed to benefit from the structural growth opportunities in our markets.”
The company added that the trends in LFL sales growth in the quarter has similar to UK, North America and the Rest of the World and expects LFL sale growth next quarter to be between 2% and 3%.
