PRN: SSP Group Results for the Year Ended 30 September 2011
SSP Group Results for the Year Ended 30 September 2011 [12-December-2011] WEYBRIDGE, England, December 12, 2011 /PRNewswire/ -- SSP Group, the leading dedicated operator of food and beverage brands in travel locations, today announces its audited financial results for the year ended 30 September.
SSP Group Results for the Year Ended 30 September 2011
WEYBRIDGE, England, December 12, 2011 /PRNewswire/ --
SSP Group, the leading dedicated operator of food and beverage brands in travel locations, today announces its audited financial results for the year ended 30 September.
Andrew Lynch, CEO of SSP, commenting on the results for the year, said:
"I am pleased to report that SSP has delivered robust like-for-like sales growth during 2011, and this, together with improvements in operational productivity, has driven a strong year-on-year increase in profit. Â We have continued to win new business and have successfully renewed and extended a number of our most significant contracts in Europe. Our unrivalled insight into the needs and behaviour of consumers in the travel environment remains critical to our success in building the business around the world, and we have continued to help some of the world's biggest brands enter into and thrive in the travel sector. Despite the uncertainty in the current economic climate and the pressures on consumer spending and passenger numbers in the travel sector, we remain well positioned for the year ahead."
SSP is also pleased to announce today a successful contract win for five new restaurants at Xian airport in China, one of the fastest growing airports in the world, as well as the ten year extension of a significant existing contract at Gare de Lyon in Paris.
2011 2010 Financial results GBPm GBPm Change Sales 1,721.0 1,628.1 Like for Like Sales Growth +4.8% +3.4% +5.7% EBITDA 130.0 115.1 +13.0% EBITDA Margin % 7.6% 7.1% +0.5% Capex 60.5 45.0 Operating Cashflow 56.9 68.0
NOTES TO EDITORS:
SSP is the leading dedicated operator of food and beverage brands in travel locations, operating restaurants, bars, cafes, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With a heritage stretching back over 60 years, today SSP has 30,000 employees, serving over a million customers every day. It has business at over 140 airports and over 250 rail stations, and operates more than 2,100 units in 30 countries around the world.
SSP operates an extensive portfolio of over 200 international, national, local and speciality brands. These include Upper Crust, Starbucks, CaffÃ¨ Ritazza, Burger King, M&S Simply Food, Bonne JournÃ©e, Pizza Hut, Caviar House & Prunier, and leading Japanese noodle brand Ajisen Ramen as well as stunning bespoke concepts such as the Montreux Jazz CafÃ©. Â http://www.foodtravelexperts.com