Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.SSP reports solid start to the year with +5% like-for-like Q1 sales growth
By Trbusiness Editor |
SSP Group CEO Patrick Coveney: “We have made a good start to the financial year.”
Travel food & beverage (F&B) operator SSP has released a trading update for its 2026 financial year Q1 results, covering the period from 1 October-31 December 2025.
Total group sales increased +6% year-on-year, and +5% on a like-for-like (LFL) basis. In North America, sales grew by +4% year-on-year, driven mainly by net gains as the company expanded its share within the 57 airports in which it operates.
SSP attributed some LFL volatility during the quarter to seasonal fluctuations, and t0 the US government shutdown.
In Continental Europe, sales rose +1% on a constant currency basis, reflecting a +2% LFL increase, despite weak consumer sentiment and lower spend levels in several markets. SSP’s rail business – currently the subject of a wide-ranging review – was particularly affected.
In the UK & Ireland, sales grew by +8% year-on-year, with sustained strong LFL results. The company acknowledged it was seeing the benefits of a strengthened customer proposition as a result of its refresh and renewal programmes.
In APAC and EEME, sales soared by +17% year-on-year, with the strengthened LFL growth quarter-on-quarter (Q1 FY26 LFL: +10% vs Q4 FY25 LFL: +6%) benefiting from a more normalised air capacity in India.
Trading also reflected strong net gains across this higher margin region, as well as sustained strong LFL growth in Australia. Overall, SSP noted that the new financial year had started well, with positive revenue momentum. The company’s full-year guidance remains unchanged.
SSP Group CEO Patrick Coveney commented: “We have made a good start to the financial year, with LFL sales growth of +5% in the first quarter. We are on track against our ‘Focus 26’ operational plan with a range of programmes underway to deliver sustained improvements in profitability, cash and returns on capital. Given this momentum, we remain confident in our prospects for the balance of FY26 and beyond.”
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