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Tue, December 3, 2024

Upper Crust owner SSP posts 23% rise in annual profit


Published on 2024-12-03 03:30:58 - Bill Williamson, WOPRAI
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  • Upper Crust owner SSP Group reported a 23% jump in annual profit on Tuesday, in line with market expectations, partly buoyed by robust performance in its North America and UK markets.

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/ ]
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