SSP Posts Resilient Growth
SSP Group Reports 4% Q3 Sales Growth, Affirms Full-Year Guidance Amidst Regional Challenges
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Key Points
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APAC & EEME region accounts for 12% of SSP's annual group sales, with Gulf markets at around 2% and the Eastern Mediterranean at about 2% of annual sales, illustrating the regional mix behind the overall performance.
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The 'Other' category includes the impact from the staged exit of SSP's German MSA business, highlighting one-off items that offset ongoing operating performance.
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UK & Ireland performance benefited from lapping last year’s M&S cyber incident, contributing to stronger sales and higher LFL growth in Q3.
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North America’s quarterly gains were helped by an increase in the number of SSP restaurants across the airport footprint, with net gains of around 2%.
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In Q3, Eastern Mediterranean and Asia Pacific posted LFLs of +3% and +2%, respectively, underscoring regional variance within APAC & EEME.
SSP Group, the travel food operator behind Upper Crust and other airport brands, posted 4% sales growth in Q3 on a constant-currency basis, with like-for-like (LFL) sales also up 4%, according to Reuters. The update covered the three months ended June 30, 2026, and kept the company on track to meet its full-year targets.
Strong trading in the UK and Ireland carried much of the weight, offsetting a drag from the Middle East conflict. Sharecast reported that Gulf markets fell to around 65% of prior-year levels as the conflict cut passenger traffic across the region.
UK and Ireland Lead the Way With 11% LFL Growth
The UK and Ireland was SSP's standout region in Q3. Sales rose 8% year-on-year, with LFL growth of 11%. Reuters noted that the strong numbers partly reflect a low base from last year, when the M&S cyber incident weighed on trading. That comparison made Q3 figures look especially strong.
North America also held up well. Sales grew 4%, with LFL up 2%. AOL reported that the gains were helped by a net increase of around 2% in the number of SSP restaurants across its airport footprint. More locations meant more sales, even as passenger traffic stayed broadly steady.
Middle East Conflict Drags Gulf Markets to 65% of Prior Levels
The APAC and EEME region was SSP's weakest spot. Overall LFL fell 2% in Q3. Gulf markets were the hardest hit, running at just 65% of prior-year sales levels. The region accounts for about 2% of SSP's annual group sales, according to Sharecast. Reduced passenger traffic caused by the ongoing Middle East conflict is the main driver.
Within the region, results were mixed. The Eastern Mediterranean posted LFL growth of 3% in Q3, while Asia Pacific came in at 2%. Both figures reflect lower local and connecting traffic. The APAC and EEME region as a whole makes up around 12% of SSP's total annual sales, limiting the damage to group-level results.
Continental Europe Steady as German Exit Weighs on Numbers
Continental Europe was broadly flat in Q3. Sales held roughly stable, with LFL growth of 2%. The region faces a one-off drag from SSP's staged exit of its German motorway service area (MSA) business. That exit shows up in the 'Other' category and offsets some of the ongoing operating performance, Moodie Davitt Report noted.
SSP Reaffirms Full-Year Guidance Under Focus 26 Plan
For the nine months ended June 30, 2026, SSP reported group sales growth of 5%, with LFL also up 5%. The company said it remains on track to meet full-year expectations. Moodie Davitt Report described the update as showing "solid trading momentum" despite the regional headwinds.
SSP is pursuing its Focus 26 plan, which targets better profitability, stronger cash flow, and higher returns. The company reaffirmed its FY26 earnings guidance. Most regions are holding up, and management pointed to the UK and North America as proof that the broader travel food market remains resilient.
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