Travel retail business SSP, which operates brands including Starbucks and Upper Crust, has reported £221.m in operating profit.The company said the 12.1% increase in profit in the year ended 30 September 2019 had been driven by a combination of new contracts, operational efficiency and sales growth.Total revenue was £2,794.6m, up 7.8% at constant currency, and up 9% at actual exchange rates. Growth in air and rail passenger numbers drove a 1.9% increase in like-for-like sales.“SSP has delivered another strong performance in 2019,” said CEO Simon Smith. “Operating profit was driven by solid like-for-like sales growth despite some external headwinds, significant new contract openings and further operational improvements.”Smith added that SSP continued to grow its business in Continental Europe, India and the Philippines. It expanded into Brazil for the first time and planned to extend into Bermuda, Bahrain and Malaysia.“The new business pipeline is strong across all our geographies both this year and next, and we’ve announced a £100m share buyback, which further demonstrates our confidence in the future of the business.”Recent SSP activity in the UK has included a partnership with Warrens Bakery to open a store in Gatwick Airport. The company was forced to close its first Knead site, opened with Paul Hollywood at Euston Station, as building worked started on the High Speed 2 (HS2) development, but has not ruled out opening further sites under the brand.Smith added: “The new financial year has started in line with our expectations and, while a degree of uncertainty always exists around passenger numbers in the short-term, we continue to be well placed to benefit from the structural growth opportunities in our markets and to create value for our shareholders.”
WITH the seventh annual COURTS 10K and 3K athletic road races set for tomorrow around Georgetown, local beverage giant Banks DIH Limited has renewed its partnership with COURTS Guyana Inc. for the one-day event.The partnership was sealed yesterday when the business entity handed over the sponsorship cheque for the event at a simple presentation ceremony, held at Banks DIH Limited headquarters at Thirst Park.The event will be sponsored under the Rain Forest Waters brand.The presentation was made by Clive Pellew, Water Beverage Brand Manager, to Pernell Cummings, COURTS Marketing Manager in the presence of Aubrey Hutson, Amateur Athletics of Guyana (AAG) president; Race Coordinator James Cole and Banks DIH Outdoor Events Manager Mortimer Stewart.During brief remarks, Cummings thanked Banks DIH Limited for supporting the programme once again, as the two companies continue their partnership to foster the development of sport in Guyana.The 10K race is expected to attract the country’s leading male and female distance runners.Employees of the Company will compete in the 3K race while there will also be a Golden mile (1500 metres) for children between 10 and 16 years old. Over $2M in cash and other incentives will be up for grabs.The races, which get underway at 06:00hrs, will start and end at COURTS on Main Street, Georgetown.
Lucknow, Apr 21 (PTI) Uttar Pradesh continued to reel under scorching heat as dry spell continued giving no respite to the people from sweltering heat even as mercury level touched 45.3 degrees in Allahabad.According to Met office, heat wave prevailed at isolated places in the state and Allahabad was the hottest place.Temperatures were above normal in Gorakhpur, Varanasi, Allahabad, Lucknow, Bareilly, Faizabad, Moradabad, Jhansi, Agra, Meerut and Kanpur divisions.The MeT department has forecast that heat wave is likely to continue at isolated places over the state along with duststorms. PTI SAB RCB RG RCB