SSP Group announces rise in profit, revenue and like-for-like sales
Foodservice company the SSP Group has announced a rise in profit, revenue and like-for-like sales in its results for the year ended 30 September 2014.
The group, which operates brands including Café Ritazza and Upper Crust, posted a 20.8% increase in operating profit in constant currency compared to 2013 (at 12.3% to £88.5m at actual exchange rates); and a 3.3% rise in like-for-like sales thanks to strong results in the UK, North America and Asia.
Revenue was up 4% to £1.82m (on a constant currency basis, and stable at actual exchange rates) compared to 2013.
The company said its capital investment for the year had been at £76m, and highlighted new contracts at Stansted, Dubai, Sacramento and Beijing airports.
SSP announced the £135m Stansted deal in July this year, and included a bakery collaboration with TV chef James Martin.
SSP chief executive Kate Swann commented that the results demonstrated a good performance and showed that the company had scope to grow and develop.
She said: "We are particularly encouraged by the strong growth we achieved during the year in North America and Asia Pacific. We also began to deliver early results from our broad programme of initiatives to drive benefits from our international scale and are encouraged by the opportunities going forward."
She added: "We have started the financial year in line with our expectations and looking ahead…we are well positioned to benefit from the underlying positive trends in our markets."
