28th Jan 2016 07:56
LONDON (Alliance News) - SSP Group PLC on Thursday said its new financial year had started well and affirmed its expectations for the full year, as good performances in the UK, Europe and the US offset some weakness in the rest of the world.
The FTSE 250-listed company, which operates food and drink concessions in travel hubs, said its total revenue rose 6.2% in the quarter to the end of December on a constant currency basis and was up 4.3% on a like-for-like basis, helped by contract wins in line with its expectations. Total revenue growth on a reported basis was 1.9% in the half, as some currency weakness, particularly for the euro, held back growth.
Like-for-like sales growth was strong in the UK and Europe, though this has moderated slightly due to "geopolitical activity", the company said, referring to the terrorist attacks in Paris in November which resulted in subdued travel activity in Continental Europe.
North America like-for-like sales growth continued in the quarter, following a good 2015 financial year, SSP said, and like-for-like sales in the rest of the world were in line, though Egypt sales remained under pressure due to the fall in passenger numbers resulting from the Russian passenger plane crash late last year.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
SSP Group