Travel food outlet operator SSP Group said the trading in the eight weeks to January 30 slumped to 57% of pre-Covid pandemic levels due to the surge in Omicron variant cases and government restrictions.
The Upper Crust owner said recent weeks had been “more encouraging”, as curbs were lifted in the UK and some Continental European markets, with sales now trending positively again, driven mainly by strengthening trading in the Rail sector as commuter travel returns.
In the four months from October 1, group revenues hit 62% of pre-pandemic levels with trading “resilient” during December and the holiday period before softening in January.
SSP also reiterated medium-term guidance of a return to 2019 core earnings margins by 2024.
“Whilst the Omicron variant continues to have some impact on trading, we are confident in our ability to manage any short-term volatility and, subject to no further government restrictions being introduced, we are well positioned for the important summer trading period,” the company said on Friday.
