Increasing traveller numbers boost travel caterer SSP's sales

Increasing passenger numbers in the UK and Europe drove sales contributing to a positive first quarter performance for travel caterer SSP.

This is according to the group's trading update for 1 October to 31 December 2017, for its financial year ending 30 September 2018.

Total group revenue increased by 13.5%, comprising like-for-like sales growth of 2.7%, net contract gains of 8.1%, and the acquisition of the TFS joint venture in India adding a further 2.7% to sales.

Looking forward to the full year, SSP expects like-for-like sales growth of 2-3%.

After a "good start" in the first quarter, an "encouraging" pipeline of new contracts and the deferral of redevelopments at some airports, SSP anticipates net contract gains for the group, including the impact of TFS, to be approximately 4% for the full year.

The statement also said: "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."

SSP operates more than 2,500 units at approximately 140 airports and 280 rail stations around the world. It announced a partnership with Grind last year to launch its café-bars in airports and train stations across the UK and Europe.

Profits take off at SSP thanks to air passenger growth >>

SSP reports 14.6% revenue increase in Q3 trading report >>

Grind to crowdfund expansion into airports and train stations >>

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