SSP reports 4.8% rise in sales
Travel concession operator SSP has reported a "robust" uplift in like-for-like sales of 4.8% for the 12 months to 30 September.
The company, which operates food and beverage brands in travel locations across the world, reported sales of £1.7b and operating cash-flow of £56.9m after capital expenditure of £60.5m.
The growth in sales was driven by Scandinavia, the USA and Asia Pacific regions, including £93m of new contract wins.
SSP also said it had renewed contracts with an annual sales value of £185m, representing a retention success rate of 86%. Key renewals included Liverpool, Belfast and Leeds Bradford airports.
Andrew Lynch, chief executive of SSP, said he was pleased to report "robust like-for-like sales growth" during 2011.
"Our unrivalled insight into the needs and behaviour of consumers in the travel environment remains critical to our success in building the business around the world, and we have continued to help some of the world's biggest brands enter into and thrive in the travel sector," he added.
"Despite the uncertainty in the current economic climate and the pressures on consumer spending and passenger numbers in the travel sector, we remain well positioned for the year ahead."
SSP signs £110m agreement with Center Parcs >>
SSP wins seven-year deal at London City Airport >>
Concession caterer SSP extends distribution contracts with DBC >>
By Janie Stamford
E-mail your comments to Janie Stamford here.
Catererandhotelkeeper.com jobs
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs
