SSP Group who owns Upper Crust has reported that profits jumped by a third and the company is expecting further growth across their outlets in the UK.
SSP Group runs food outlets at airports and train stations and reported in the year to 30 September profits rose by 35% to £118.6 million.
Profits was boosted by a buoyant travel market across the UK even though the Chnacellor’s recent Budget measure to raise employers’ national insurance contributions and higher wage costs.
SSP Group said they are facing “cost headwinds” in the second half of their financial year due to the Budget measures which takes place from April 2025, but they are expecting “further growth and margin progression” in the UK.
Patrick Coveney, chief executive of SSP Group, said: “SSP has strong fundamentals and benefits from the global travel market’s sustained long-term growth trends.”
He added: “In continental Europe, we are accelerating our profit recovery plan, in particular by building returns from the significant number of recently renewed and extended contracts.
“Across the wider group, our priorities remain on sharpening our performance culture to drive profitable growth and returns, so as to unlock the full potential of SSP.”
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