{"id":39132,"title":"SSP Group Reports Robust First Quarter Growth as Global Travel Surges","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2025-01-29T04:27:35+00:00","modified":"2025-01-28T15:31:37+00:00","canonical_url":"https://stockmark.it/ssp-group-reports-robust-first-quarter-growth-as-global-travel-surges/","markdown_url":"https://stockmark.it/ssp-group-reports-robust-first-quarter-growth-as-global-travel-surges.md","json_url":"https://stockmark.it/ssp-group-reports-robust-first-quarter-growth-as-global-travel-surges.json","category":"Airport","categories":["Airport","Retail","Travel"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-91-2.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"The travel food and beverage giant SSP Group has delivered impressive first-quarter sales growth, bolstered by heightened global travel activity and strategic acquisitions. The operator of renowned outlets including Upper Crust and Caffè Ritazza witnessed a 6 per cent rise in like-for-like sales during the quarter ending December.\n\nOperating across 37 countries with approximately 3,000 outlets, SSP demonstrated growth across all its key markets. The UK and Ireland emerged as particularly strong performers, recording a 9 per cent increase in sales, attributed to robust airport passenger numbers and reduced railway industrial action.\n\nThe company’s European and North American operations each posted 3 per cent growth, whilst the Asia Pacific, eastern Europe and Middle East regions excelled with a remarkable 14 per cent increase. This outstanding performance in Asian markets was largely driven by rising passenger numbers and the successful integration of Airport Retail Enterprises, an Australian acquisition completed in May.\n\nChief Executive Patrick Coveney expressed satisfaction with the results, stating, “We have made a good start to the new financial year. Our tightened agenda with a focus on driving returns from recent investments and enhancing efficiency to drive profitability is progressing well.”\n\nThe FTSE 250 company maintains its full-year guidance, projecting like-for-like sales growth between 4 and 5 per cent for 2025. The organisation is also proceeding with plans to float Travel Food Services, its Indian joint venture with K Hospitality, with the IPO expected to complete in spring.\n\nThe market responded positively to the trading update, with SSP’s shares climbing 7½p, or 4.3 per cent, to 179p. The company’s strategic positioning and consistent performance continue to attract investor confidence, particularly as global travel patterns strengthen post-pandemic."}