SSP stays silent on float plans as profits take leap
KATE Swann, the boss of travel catering giant SSP, stayed silent on potential plans for a £2bn float yesterday after posting a 28 per cent jump in operating profits.
The private equity-owned group was said earlier this year to be gearing up for a float this month, after drafting in Goldman Sachs.
Swann declined to comment but said it “was not surprising” that EQT would be looking to sell as its seven-year investment and SSP’s “strong fundamentals” made it an attractive buy for future investors.
SSP, which runs over 2,000 outlets in airports and railways stations in 29 countries, posted operating profits £19.7m at constant currencies in the first half to 31 March.
Sales were up 4.6 per cent to £865.8m, driven by a 25 per cent sales jump in the US after launching three airport restaurants.
The group is also on an expansion drive in China and won a major contract in the period to run six outlets at Beijing airport.