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Upper Crust owner SSP posts 23% rise in annual profit

SSP Group, the owner of the Upper Crust bakery chain, reported a 23% increase in its annual profit for the year ending September 30, 2023, driven by a recovery in travel and a strong performance in North America. The company's revenue rose by 37% to 3.1 billion pounds, with like-for-like sales up by 26.4%. Despite inflationary pressures, SSP managed to enhance its profitability through cost management and operational efficiencies. The firm also noted a significant improvement in its net debt position, which decreased to 379 million pounds from 468 million pounds the previous year. Looking forward, SSP anticipates a further increase in sales and profit for the upcoming year, supported by continued growth in travel sectors and strategic expansion plans.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/upper-crust-owner-ssp-posts-23-rise-annual-profit-2024-12-03/ ]