SSP Group's like-for-like sales up 3%

Travel concession operator SSP Group has reported a like-for-like sales increase of 3% in its financial results for the year ended 30 September 2016.

The firm, which operates food and beverage outlets in locations worldwide, saw its underlying operating profit increase by 18.2% to £121.4m at constant currency, with reported profit before tax of £105.6m.

Meanwhile, revenue was up 5% to £1.9b at constant currency and 8.6% at actual exchange rates.

Kate Swann, CEO of SSP Group, said: "SSP has delivered another good performance in 2016 and we continue to make progress on our strategic initiatives. Constant currency operating profit was up 18% driven by good like-for-like sales growth, further operational improvements and higher new contract openings. We continue to develop our presence across the world, particularly in North America and Asia Pacific.

"The new financial year has started in line with our expectations and whilst a degree of uncertainty always exists around passenger numbers in the short term, we continue to be well placed to benefit from the structural growth opportunities in our markets and our programme of operational improvements."

The company operates more than 2,000 sites in over 30 countries around the world.

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