SSP Group sees revenues grow by 10.3% in Q3
Like-for-like sales growth in the UK was in line with their expectations.
Food and beverage operator SSP Group saw total revenues for the period increased 10.3% year-on-year for the third quarter of its financial year.
In a trading update, SSP says revenue increased by 9.2% on a constant currency basis, comprising like-for-like sales growth of 2.0% and net contract gains of 7.2%.
Like-for-like sales growth in the UK was in line with group expectations, with stronger like-for-like sales growth in the air sector compared to rail. In Continental Europe, like-for-like sales was continued to be held back by slower passenger growth in the Nordic countries and the impact of airport redevelopment activity in this region and in Spain.
In North America, they explain, like-for-like sales growth was driven by increasing passenger numbers, despite some of our airport locations having been impacted by the grounding of Boeing Max 737 aircraft and the transfer of passengers away from the terminals.
Net contract gains were labeled by the group as “good”, driven by Continental Europe and North America, where the mobilisation of new contracts were slightly ahead of schedule.
Looking forward, they expect net gains in the full year to be “slightly ahead” of expectations at around 5%, accompanied by pre-opening costs.
