Search
The Caterer

SSP announces plans to float

17 June 2014 by
SSP announces plans to float

SSP Group, which operates branded outlets such as Cafe Ritazza and Upper Crust, has announced its intention to float on the London Stock Exchange.

It operates more than 300 brands, including partner brands such as M&S, Starbucks and Burger King, in travel sites such as railway stations and airports.

For its financial year to 30 September 2013 SSP reported revenues of £1.8b and profit before tax of £152m.

Chief executive Kate Swann said: "SSP is a leader in the fast growing international travel food and beverage market and is focused on the more rapidly growing sectors of air and rail.

The business is geographically diversified with good representation in the UK, Europe, North America, the Middle East and Asia Pacific.

"An IPO is the appropriate next step for a business of SSP's calibre, size and international scale and we believe that we are well-placed for life as a listed company."

Non-executive chairman Vagn Sørensen added: "SSP has proved itself to be a robust and resilient business that is capable of consistently delivering profitable growth. It benefits from a number of favourable trends, including rising air and rail passenger numbers, increasing consumer spend, and ongoing investment in travel infrastructure around the world.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.