- SSP trading update reveals fourth quarter revenues at less than half of their pre-pandemic levels
- With cash on the balance sheet, the company is on the road to recovery
SSP (SSP) investors will be dearly hoping that this morning’s trading update is the last to be blighted by the fallout from Covid-19 restrictions. Operating food and beverage outlets in travel hubs around the world doesn’t lend itself to strong results when global travel remains at just a fraction of pre-pandemic levels. Indeed, in the three months between July and September, revenues were at just 47 per cent of the same period in 2019.
The UK government has announced looser testing requirements for travellers from next week, likely encouraging more people to visit SSP outlets, but these come after the summer tourism season.