SSP Group sees UK sales rise 12% in Q4

Operator of F&B outlets in travel locations, SSP Group, has reported that UK sales rose by 12%, with a like-for-like jump of 9%, during the fourth quarter ended 30 September. 

The group’s UK performance was driven by high demand in the air travel sector, a lower level of disruption in rail against the previous year, and “strong operational execution” throughout the peak summer period. 

Meanwhile, North America saw sales rise by 20% year-on-year on a constant currency basis, as acquisitions contributed 7% to sales. 

Continental Europe also saw sales growth of 7%, largely driven by the high level of new unit openings. While. SSP’s like-for-like sales performance was strong in Spain and other Mediterranean holiday destinations at 3%, it was behind expectations primarily in France and Germany. 

Meanwhile, in APAC and EEME sales rose by 30%, with a strong like-for-like sales growth of 9%, driven mainly by Australia, Hong Kong and Egypt.

As a result, the fourth quarter saw revenues grow by 15% year-on-year on a constant currency basis, including a like-for-like sales increase of 6%. 

SSP Group expects end-of-year revenues to hit approximately £3.5bn, spelling a rise of about 17% year-on-year, with operating profits between £210m and £220m – rising around 30% year-on-year.  

Patrick Coveney, CEO of SSP Group, said: “There has been good trading momentum across our business throughout Q4. Our North America, Asia Pac and EEME regions have continued to perform ahead of, or in line with, our plan and we have seen a material improvement in the performance of our UK business. 

“Overall, this year, we expect the group to deliver a significant increase in year-on-year profitability and margins. Our focus is now on optimising the performance of our business, building returns on the high level of recent investment, and the delivery of sustainable and compounding growth and returns in the years to come.”