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The operator of food and beverage outlets in travel locations, SSP Group, has reported operating profits of £91.5m for the year ended 30 September after suffering a loss of £209m in 2021.
The group has attributed its return to profitability to the rapid recovery in passenger demand through the year, as well as its “disciplined” cost management.
It is reported that the group’s revenue also hit £2.1bn compared to £834.2m last year, growing 162% since then.
In addition, its underlying EBITDA grew to £142m compared to an underlying EBITDA loss of £108.3m last year.
SSP’s profit before tax also grew to £25.2m, having sustained a loss of £411.2m in 2021.
Patrick Coveney, CEO of SSP Group, said: “This has been a year of strong recovery for SSP, with momentum building strongly through the second half and into our new financial year.
“SSP is a fabulous business with strong foundations on which to build. We are also rapidly building our presence in selected Asia-Pacific markets and continue to expand in a targeted way in the UK, Europe and the Middle East.”
He added: “As we finish 2022, I would especially like to thank our outstanding colleagues across the world for the enormous contribution that they make to SSP each and every day. Despite the current macroeconomic uncertainty, we remain confident in the future growth and returns prospects for SSP.”
