26th Nov 2015 07:51
LONDON (Alliance News) - SSP Group PLC on Thursday said it swung to a profit in its recently-ended financial year as it recovered from losses it made the prior year and revenue rose slightly on the back of new contract openings and higher passenger numbers.
SSP, which operates food and beverage outlets in travel locations, said it made a pretax profit of GBP76.8 million in the year ended September 30, after suffering a GBP13.5 million pretax loss the year before when it booked exceptional costs relating to restructuring and its IPO.
Revenue grew slightly to GBP1.83 billion from GBP1.82 billion, which it said was boosted by new contract openings and like-for-like sales growth, the latter of which was driven by higher passenger numbers in the UK and Continental Europe over the summer.
SSP will pay a final dividend of 2.2 pence, taking the total dividend to 4.3p for the year.
"The new financial year has started in line with our expectations and 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," Chief Executive Kate Swann said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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