Source - Alliance News

SSP Group PLC on Tuesday maintained an optimistic perspective on the year ahead, after seeing sales increase in the first quarter.

For the first quarter, which ran between October 1 and December 31, SSP Group posted sales of GP788 million, up 21% from a year prior.

According to the London-based operator of travel food and beverage outlets, like-for-like sales growth of 14% reflected ‘the further recovery of passenger numbers’, as well as the strength of its customer proposition.

Net contract gains of 6.9% were in line with expectations, and included a 2.2% contribution from acquisitions.

Looking ahead to the rest of the year, SSP Group also noted that it has made a good start to the year, with ‘strong organic growth momentum’ maintained into the second quarter.

While the firm remains conscious of macroeconomic and political uncertainty, it believes that demand for travel ‘will remain resilient’, and that the industry is ‘well set for both short-term and long-term structural growth’.

For financial 2024, SSP Group continues to expect underlying earnings before interest, tax, depreciation, and amortisation between £345 million and £375 million, and underlying operating profit between £210 million and £235 million.

SSP Group shares were trading 2.8% higher at 231.60 pence each in London on Tuesday morning.

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