Pre Close Trading Update

RNS Number : 9239B

SSP Group PLC

26 September 2018

 

LEI: 213800QGNIWTXFMENJ24

26 September 2018

Pre Close Trading Update

SSP Group plc, a leading operator of food and beverage outlets in travel locations worldwide, announces a pre close trading update, ahead of its financial year ending 30 September 2018, covering the period from 1 July 2018 to 30 September 2018.

Trading in the fourth quarter has been in line with our expectations, with like-for-like sales growth continuing at a similar level to that seen in the third quarter. Our expectations for like-for-like sales growth in the full year remain unchanged at between 2% and 3%. Like-for-like sales growth has been driven largely by increased passenger numbers in the air sector. Trading in the rail sector has remained soft during the year.

Net contract gains for the full year are expected to be around the top end of the previously announced range of 4.5% - 5.0%. Net contract gains have continued to be driven by strong growth in North America and on-going progress in the Rest of the World.

The acquisitions of TFS in India and Stockheim are performing well and are expected to add approximately 1.5% to revenue in the full year.

Outlook

Looking forward, whilst a degree of uncertainty always exists around passenger numbers in the short term, we are well placed to continue to benefit from the structural growth opportunities in our markets and to create further shareholder value.

Currency

Trading results from outside the UK are converted into Sterling at the average exchange rates for the period. Our estimate of the overall impact on revenue of the movement of foreign currencies (principally the Euro, US Dollar, Swedish Krona, and Norwegian Krone) during the full year 2018 compared to the 2017 average is expected to be just under -2%.

2018 Full Year Results Announcement

The Group's results for the year ending 30 September 2018 are expected to be released on 21 November 2018.

CONTACTS

Investor and analyst enquiries

Sarah John, Director of Investor Relations, SSP Group plc

[phone]; E-mail: [e-mail]

Media enquiries

Peter Ogden / Lisa Kavanagh, Powerscourt

[phone]; E-mail: [e-mail]

NOTES TO EDITORS

About SSP

SSP is a leading operator of food and beverage concessions in travel locations, operating restaurants,

bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service

stations and other leisure locations. With over 50 years of experience, today we have nearly 37,000

employees, serving approximately a million customers every day. We have business at approximately 140 airports and 280 rail stations, and operate more than 2,500 units in over 30 countries around the world.

SSP operates an extensive portfolio of more than 450 international, national, and local brands. Among

these are local heroes such as MASH in Copenhagen, James Martin Kitchen in London, and Hung's

Delicacies in Hong Kong. Our range also includes proprietary brands created for the travel sector

including Upper Crust, Le Grand Comptoir and Ritazza, as well as international names such as Burger King,  Starbucks, Hard Rock Café and YO! Sushi. We also create stunning bespoke concepts such as Five Borough Food Hall in JFK, New York and Walter at Zurich.

www.foodtravelexperts.com

 

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