All SSP articles – Page 3
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NewsSSP buoyed by travel sector recovery
The food and beverage concessions operator reported steady recovery, with revenue running at 87% of 2019 levels overall and UK revenue at 82%
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NewsSSP launches new food-to-go concept
Soul + Grain in London’s Victoria station features pastries, salads, and freshly made sandwiches and toasties
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NewsSSP sees ‘significant rebound’ in travel sector
In the UK, sales are back to around 82% of pre Covid-19 levels, with the air sector boosted by strong leisure demand, and the rail business helped by the return of commuters in increasing numbers
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NewsUpper Crust owner faces revolt over paying bonuses despite keeping furlough cash
SSP is braced for a row with shareholders over a decision to pay bosses bonuses while refusing to repay taxpayer-funded furlough cash, The Sunday Telegraph reports
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NewsSSP reports revenue decline of +40%
The group said trading levels had improved over the summer and autumn, with revenue averaging 66% of 2019 levels in the first nine weeks of the new financial year.
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NewsSSP names new group CEO
SSP has appointed current Greencore chief executive Patrick Coveney, as group CEO.
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NewsSSP sees improvement in revenues in Q4
SSP Group expects to achieve revenues of around 47% of 2019 levels in the fourth quarter, ending 30 September 2021, as passenger numbers continue to rise.
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NewsSSP appoints deputy CEO
SSP Group has announced that Jonathan Davies has been appointed as deputy chief executive, alongside his current role of chief financial officer, with immediate effect.
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NewsSSP group CEO to step down
Simon Smith is to step down from his role of group chief executive officer of SSP. He is expected to leave the group at the end of the year in order to take up a new opportunity at a private equity backed business.
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NewsSSP expects pre-Covid revenues to return by 2024
SSP has said it had delivered “a resilient performance” over the six months to 31 March 2021, despite revenue being down 78.8% at constant currency rates, to £256.7m.
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NewsSSP announces £475m rights issue
SSP Group has announced that it intends to raise approximately £475m by way of a ’12 for 25’ rights issue, as it looks to firm up its financial position.
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NewsHospitality companies see stocks rise on back of roadmap announcement
Investors have snapped up hospitality and leisure stocks following the announcement by Boris Johnson of his roadmap out of lockdown on Monday.
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NewsSSP considering equity options
SSP Group has confirmed it has drawn down £300m from the Bank of England CCFF (Covid Corporate Financing Facility), and is exploring further funding options.
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NewsSSP menus cut by up to 60% during pandemic
Travel hub operator SSP has simplified its menus by up to 50-60% during the pandemic, which could result in smaller menus remaining post-covid, according to an analysts’ note by Peel Hunt.
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NewsSSP optimistic for “slow and steady” recovery
Travel hub operator SSP Group has said it remains optimistic in its ability to adapt to and capitalise on the return of the travel market next year despite incurring huge losses in 2020.
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NewsSSP sales continue to struggle
SSP Group has predicted a bleak H2 outlook as the coronavirus crisis continues to hit sales.
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NewsSSP set to make 5,000 redundant
SSP has revealed plans to make 5,000 people redundant thanks to the “unprecedented impact” the coronavirus has had on the travel sector. In a trading update it said it had taken “rapid and decisive management action” in an attempt to “protect our colleagues and customers and to preserve cash and liquidity for the duration of the many government restrictions” worldwide. However, CEO Simon Smith, said despite some “early signs of recovery in some parts of the world” in the UK the “pace of the recovery continues to be slow.
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NewsSSP secures 24-unit Dublin Airport contract
SSP Group has secured a new ten-year contract at Dublin Airport which will see it trade 24 units.
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NewsSSP reports “robust” UK growth
SSP has reported a “good start to the financial year” in its first quarter trading update released today, as lfls growth in the UK and North America remained “robust”.
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NewsLeon to open further sites with SSP
Leon is to expand its partnership with travel hub operator SSP, with a new opening planned for Cobham Services on the M25, MCA understands.