Here is a summary of the trading statement from SSP Group PLC for the third quarter of their 2024 financial year
SSP Group PLC, a leading operator of food and beverage outlets in travel locations, released a positive trading update for the third quarter, highlighting strong growth and unchanged full-year guidance.
The groups sales in Q3 increased by 16% year-on-year on a constant currency basis, driven by a 6% rise in like-for-like sales, 5% net contract gains, and a 5% contribution from acquisitions.
All regions performed well, with North America leading the way, benefiting from recent acquisitions. Continental Europe and the UK also saw solid sales growth, while APAC and EEME experienced strong like-for-like growth and benefits from acquisitions.
For the nine-month period, total group revenues increased by 18% year-on-year, including a 10% rise in like-for-like sales, 4% net contract gains, and a 4% contribution from acquisitions.
SSPs expectations for the full year remain unchanged, and the group is well-positioned for the peak summer trading period. Currency impact on planning assumptions is expected to be negative but broadly unchanged since the Interim Results.
The company welcomed the findings of the ORRs study into the railway station catering market in the UK and will work with network operators to respond to its recommendations.
Overall, SSP Group PLCs third-quarter trading update reflects strong growth and a positive outlook for the full year, despite potential currency headwinds.