By Nina Kienle

SSP Group reported an increase in pretax profit for fiscal 2024 on strong momentum and sales growth in the majority of its markets.

The London-listed food-and-beverage company--which houses the Upper Crust bakery chain that operates in railways and airports--said Tuesday that its pretax profit rose to 119 million pounds ($150.6 million) in the fiscal year ended Sept. 30 from 88 million pounds in fiscal 2023.

Revenue climbed to 3.43 billion pounds from 3.01 billion pounds, while operating profit rose 32% to 206 million pounds.

Underlying earnings before interest, taxes, depreciation and amortization were 343 million pounds up from 280 million pounds.

"SSP has strong fundamentals and benefits from the global travel market's sustained long-term growth trends. This was clearly visible in the FY24 performance in three of our four regional markets," Chief Executive Patrick Coveney said.

For fiscal 2025, the company faces macroeconomic and political uncertainty, but believes that demand for travel will remain resilient and is well set for both near-term and long-term structural growth, it said.

After the positive result, SSP has proposed a final dividend payment with a final dividend of 2.3 pence and a full-year dividend of 3.5 pence, it said.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

December 03, 2024 02:34 ET (07:34 GMT)

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