HomeStockHigher Crust proprietor SSP gross sales recovering after Omicron hit By Reuters

Higher Crust proprietor SSP gross sales recovering after Omicron hit By Reuters

© Reuters. FILE PHOTO: FILE PHOTO: A person sporting a protecting masks walks previous an Higher Crust at Victoria Station in London, Britain July 1, 2020. REUTERS/Hannah Mckay

(Reuters) -Higher Crust proprietor SSP mentioned on Friday its gross sales have been recovering after a slowdown in latest weeks, when fewer folks travelled as a result of Omicron-led curbs that hit its shops at prepare stations and airports.

The London-listed agency mentioned it made an underlying core revenue within the first quarter to December, and this month repaid in full the 300 million pound ($407.22 million) COVID-19 authorities financing.

The group mentioned its gross sales within the newest eight weeks to Jan. 30 have been at round 57% of 2019 ranges, down from the 9 weeks earlier than that when gross sales ran at 66% of the 2019 ranges.

SSP had lagged a broader meals business restoration from pandemic lows as most of its shops have been extra vulnerable to COVID-related disruptions to journey as a result of their location at transit factors.

It nonetheless expects its like-for-like income and revenue margins to broadly return to 2019 ranges by 2024.

($1 = 0.7367 kilos)

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