Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Retail

Upper Crust owner SSP gets boost on air travel demand, less rail disruption

Upper Crust owner SSP Group plc (LSE:SSPG) said strong air travel demand and fewer rail strikes helped to boost sales across the UK in recent weeks.

Revenue from its UK outlets increased by 12% in the three months to September, SSP said in a pre-close trading update on Thursday.

This was in line with a wider 12% uptick in group sales, as revenue climbed by 20% in North America, 30% across the Asia Pacific region and 7% in continental Europe.

SSP said revenue had increased by 17% on a constant currency basis to around £3.5 billion for the year as a result, with operating profit expected to sit between £210 million and £220 million.

Operating profit growth is set to have been strong across the UK, North America and Asia Pacific, though SSP said the figure would be lower for continental Europe.

Demand across France was lower than anticipated during the Paris Olympics, SSP said, while industrial action and weak motorway service trading hit European sales previously.

“We are addressing [these challenges] through a series of actions that will build margins,” chief executive Patrick Coveney commented, including by exiting the motorway business.

“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.”

Shares climbed by 1% on Thursday.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK