UK. Travel food & beverage group SSP has published a pre-close trading update, with Q4 like-for-like sales growth continuing at a similar level to Q3 (which was +2.7%). The company’s financial year runs to 30 September.
SSP noted in a statement: “Trading in the fourth quarter has been in line with our expectations, with like-for-like sales growth continuing at a similar level to that seen in the third quarter. Our expectations for like-for-like sales growth in the full year remain unchanged at between +2% and +3%. Like-for-like sales growth has been driven largely by increased passenger numbers in the air sector. Trading in the rail sector has remained soft during the year.”
Net contract gains for the full year are expected to be at the higher end of the previously announced range of +4.5% to +5%. These have been driven by strong growth in North America and progress in the Rest of the World division.
The acquisitions of TFS in India and Stockheim are performing well, said SSP, and are expected to add +1.5% to revenue in the full year.
Currency impact on revenue (principally from Euro, US Dollar, Swedish Krona, and Norwegian Krone exchange rates) during the full year is expected to be just under -2%.
SSP added: “Looking forward, while a degree of uncertainty always exists around passenger numbers in the short term, we are well placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value.”
