Member Article

Revenues down at Upper Crust owner SSP Group as pound strengthens

Food and beverage outlet operator, SSP Group plc have reported a reduction in total group revenue of 0.1% for the first quarter of its financial year ending 30 September 2015, covering the period from 1 October 2014 to 31 December 2014.

The group, which operates food outlet Upper Crust, has reported like-for-like sales growth of 2.7%, compared with the same period last year.

The group has noted the strengthening pound as the main cause for revenue reduction.

Like-for-like sales growth benefited from strong performances in the U.K., North America, the Middle East and Asia Pacific, although, as expected, trading has remained challenging in some parts of Continental Europe, notably France and Germany.

Whilst a degree of uncertainty continues to exist around passenger numbers in the short-term, the Group remains well positioned to capitalise on the underlying positive trends in its markets.

In comparison with last year, the pound has strengthened against many of the group’s key currencies (including the Euro, Norwegian Krone and the Swedish Krona).

This was posted in Bdaily's Members' News section by Ellen Forster .