SSP, the travel concessions operator, has reported that it enjoyed a ‘good start to the year’ in its first quarter to 31 December 2016, with revenue up 4.3% on a constant currency basis and like-for-like sales growth of 2.4%.
Net contract gains rose by 1.9% on the back of the company taking its first steps in a joint venture with Travel Food Services (TFS) in India, which added 1.1% to sales.
The company expects to have acquired the initial 33% stake in TFS by the end of February.
It said that like-for-like sales growth in the UK, Continental Europe, and North America had all been positive, while its Rest of the World division remained in line with management expectations.
The group said that its pipeline of new contracts remained “encouraging”.
The company said: “The new financial year has started in line with our expectations and the pipeline of new contracts is encouraging, although it is always difficult to predict the precise timing of the openings of new units. Whilst a degree of uncertainty always exists around passenger numbers in the short term, we continue to be well placed to benefit from the structural growth opportunities in our markets and our programme of operational improvements.”
