SSP has reported a sales boost of 9.2% for the third quarter ending 30 September 2019, covering the period from 1 April to 30 June 2019.
It said like for like sales across the group were up 2.0% and like-for-like sales growth in the UK was “in line with our expectations, with stronger like-for-like sales growth in the air sector compared to rail”.
In Europe, it said like-for-like sales “continued to be held back by slower passenger growth in the Nordic countries and the impact of airport redevelopment activity in this region and in Spain.”
But in the US, it said like-for-like sales growth was “driven by increasing passenger numbers, although some of our airports have been impacted by the grounding of Boeing Max 737 aircraft and the transfer of passengers away from our terminals.”
For the rest of the world, it said like for like sales growth had been “mixed, with good performances in Egypt and the Middle East slightly offset, as anticipated, by the cessation of operations at Jet Airways in India and slower growth in China. Looking forward to the rest of the year, we anticipate like-for-like sales growth for the Group to be around 2%.”
It added that net contract gains were “good, driven by Continental Europe and North America, where the mobilisation of new contracts has been slightly ahead of schedule. Looking forward, we expect net gains in the full year to be slightly ahead of our expectations at around 5%, and as usual they will be accompanied by pre-opening costs.”
For the nine-month period from 1 October 2018 to 30 June 2019, total Group revenues increased by 7.6%, including LFL sales growth of 2.0%, net contract gains of 5.2% and the acquisition impact of Stockheim of 0.4%. At actual exchange rates, total Group revenue increased by 8.3% year on year.