9th Jan 2015 07:27
LONDON (Alliance News) - Fast-food chain group SSP Group PLC Friday said trading in the first quarter of its new financial year was in line with expectations, delivering like-for-like sales growth on the back of strong trading in the UK, North America, the Middle East and Asia Pacific.
SSP owns brands including Upper Crust and Caffe Ritazza, which are primarily located in travel locations.
The group said revenue rose 2.9% over the three months to end-December on a constant currency basis, with like-for-like sales growth of 2.7% on the prior year.
"Like-for-like sales growth benefited from strong performances in the U.K., North America, the Middle East and Asia Pacific, although, as expected, trading has remained challenging in some parts of Continental Europe, notably France and Germany," the company said in a statement.
At actual exchange rates, revenue in the period dipped by 0.1% year-on-year, hit solely by the strength of the pound.
On its outlook for the remainder of the year, SSP said that whilst a degree of uncertainty continues to exist around passenger numbers in the short-term, it remains well positioned to capitalise on the underlying positive trends in its markets.
"In terms of new business, we are making good progress in developing our pipeline, and continue to expect a stronger net contract gains performance in the second half of this financial year," it said.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
SSP Group