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SSP Group reports steep operating loss
StockMarketWire.com
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Food and beverage outlet operator SSP Group saw its profits plummet after being heavily impacted by Covid-19 and the closure of most of the global travel markets since March.
For the year ended 30 September 2020, the company reported an operating loss of £363.9 million, compared to a £221.1 million profit last year.
Revenue fell by 47.9% to £1.4 billion, while like-for-like sales were down 50.8% on last year.
Simon Smith, chief executive of SSP Group, said: 'Covid-19 continues to have an unprecedented impact on the travel industry and on SSP's businesses in all geographies.
'We have taken rapid and decisive action to reduce costs, preserve cash and to substantially strengthen the group's financial position. I want to thank our teams for their dedication and professionalism during this time, especially when faced with extremely difficult decisions.'
At 8:11am: (LON:SSPG) Ssp Group PLC share price was 0p at 329.8p
Story provided by StockMarketWire.com
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