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Trading statements

SSP sales boosted by higher air passengers

28 September 2017 07:51

SSP Group, an operator of food and beverage outlets in travel locations worldwide, expects like-for-like sales in the fourth quarter to increase by approximately 3%.

Like-for-like sales growth in the air sector was driven by increased passenger numbers.

Trading in the rail sector remained soft during the quarter.

On a constant currency basis, total group revenues between 1 July 2017 and 30 September 2017 are expected to increase by approximately 14.8%, net contract gains of approximately 8.5% and additional revenue from Travel Food Services in India (TFS) of approximately 3.3%.

At actual exchange rates, given the weakening of Sterling against most currencies compared with the same period in the prior year, total group revenues for the period are expected to increase by approximately 17.5% year-on-year.

Net contract gains in the fourth quarter are expected to be approximately 8.5%. This performance benefitted from a strong contribution from the recently opened operations at Chicago Midway Airport. The redevelopment of Chicago Midway Airport is expected to commence in FY 2018.

For the 12 month period from 1 October 2016 to 30 September 2017, total group revenues are expected to increase by approximately 11.4% on a constant currency basis, including like-for-like sales growth of approximately 3%, net contract gains of approximately 5.8%, revenues from TFS of approximately 2.9% and a negative impact of -0.3% arising from the additional leap year day in 2016.

At actual exchange rates, total group revenues are expected to increase by approximately 19.3% year-on-year.

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Related Company: SSPG

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