SSP Group Sees Quarterly Sales Growth Driven by UK & Ireland Markets
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SSP Group Maintains Full-Year Target as UK Drives Quarterly Sales Growth
SSP Group’s Third-Quarter Performance Overview
July 28 (Reuters) – Upper Crust chain owner SSP Group said it remains on track to meet its full-year target and reported strong third-quarter sales on Tuesday, as robust trading in the UK and Ireland offset a slump in parts of its business caused by the Middle East conflict.
Key Financial Highlights
Here are some details:
Global Sales Growth
• SSP, which operates food outlets at airports and train stations worldwide, reported sales growth of 4% year-on-year on a constant-currency basis in the three months ended June 30.
Regional Performance Breakdown
APAC & EEME Region Impact
• “This performance reflected sustained quarter-on-quarter trading momentum in three of our four regions but a significant contraction in passenger numbers in our APAC & EEME region due to the conflict in the Middle East,” the group said.
• In the Gulf, SSP said the markets traded at about 65% of prior-year levels during the quarter, with lower passenger numbers also hitting key travel hubs across the region.
UK & Ireland Sales Growth
• Like-for-like sales growth in UK & Ireland stood at 11%, supported by seasonal demand and a stronger customer offering.
North America and Other Regions
• North America sales rose 2% on like-for-like basis, while APAC & EEME (Asia Pacific, the Eastern Mediterranean and the Gulf) sales decreased 2%.
Reporting Credits
(Reporting by Atharva Singh; Editing by Harikrishnan Nair)
