Edition:
India

SSP Group Says HY Underlying Pretax Profit Up 11.3% to 54.2 Mln Pounds


Wednesday, 15 May 2019 

May 15 (Reuters) - SSP Group PLC ::HY REVENUE OF £1,261.6M: UP 6.8% AT CONSTANT CURRENCY; 7.1% AT ACTUAL EXCHANGE RATES.HY LIKE-FOR-LIKE SALES(3) UP 2.0%: DRIVEN BY AIR PASSENGER TRAVEL AND RETAIL INITIATIVES.HY UNDERLYING PROFIT BEFORE TAX OF £54.2M: UP 11.3%. REPORTED PROFIT BEFORE TAX OF £51.4M.INTERIM DIVIDEND OF 5.8 PENCE PER SHARE.RAISING OUR EXPECTATIONS FOR NET GAINS IN SECOND HALF OF YEAR.SECOND HALF HAS STARTED WELL.IN FULL YEAR WE EXPECT CAPITAL SPEND IN REGION OF £160M.ANTICIPATING LIKE-FOR-LIKE SALES TO BE AROUND 2% FOR FY.INCREASE OF ABOUT £15M FOR CAPITAL SPEND REFLECTS AN INCREASE IN OUR EXPECTATIONS FOR NET GAINS FROM 3% TO BETWEEN 4% AND 5% FOR FULL YEAR.FOR FULL YEAR WE ANTICIPATE A NORMAL CASH INFLOW AS A CONSEQUENCE OF AN INCREASE IN NEGATIVE WORKING CAPITAL IN BUSINESS.HY STATUTORY OPERATING PROFIT 61.6 MILLION STG VERSUS 54.2 MILLION STG REPORTED A YEAR EARLIER.