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WBP NEWS Last modified on January 17, 2014

Sales up 5% at food and beverage operator SSP

Food and beverage operator, SSP, says sales up to September 30, 2013, were up by 5% to £1.83 billion (€2 billion).

The firm revealed the figures in its audited financial results for the year, which also included like-for-like sales growth of 4.3%.

SSP says the results benefitted from strong performances in Asia Pacific, Eastern Europe, the Middle East and Scandinavia.

EBITDA growth was 10% to £152.7 million (€167.7 million) while operating cash flow generation was £59 million (€65 million) with net cash flow after interest of £25 million (€27.5 million).

SSP has recently carried out refurbishment programme at airports across the world including Zurich, Copenhagen, Malaga and Manchester.

It has also renewed contract at airports in Abu Dhabi, Bangkok, and Hainan and has won a contract at Doha Airport.

Kate Swann, chief executive officer of SSP, says: “2013 was a good year for SSP, and we have delivered a strong performance against the backdrop of an improving travel sector.

“The new financial year has started well, and the long-term growth of the global travel markets, our broad geographic footprint, our investment plans and our healthy pipeline of new business opportunities mean that, despite the uncertain outlook in some parts of the world, we remain confident in the company's prospects for 2014 and beyond."

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