29th Nov 2016 07:29
LONDON (Alliance News) - SSP Group PLC on Tuesday reported growth in profit in its recently-ended financial year thanks to good growth in air passenger travel and said its current financial year has started in line with expectations.
SSP, which operates food and drink outlets at airports and train stations, said pretax profit in the year ended September 30 grew to GBP105.6 million from GBP76.8 million the year before, as revenue rose to GBP1.99 billion from GBP1.83 billion and like-for-like sales increased by 3.0%.
SSP said sales growth was driven by increased air passenger travel, retailing initiatives it implemented and higher contract openings.
Like-for-like sales in the air sector grew more strongly than in rail, as trading across the UK and Continental European rail operations was slightly softer in major capital cities following the terrorist attacks in France and Belgium earlier in the year.
SSP will pay a final dividend of 2.90 pence, taking its total dividend up 26% year-on-year to 5.40p.
"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 and our programme of operational improvements," Chief Executive Kate Swann said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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