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.