SSP Group plc (SSPG.L), a travel food and beverage operator, on Tuesday reported a reduced loss for the first half, mainly driven by higher revenue and lower operating costs.
Profit before tax was £6.6 million, compared with a loss before tax of £37.3 million in the prior-year period.
Excluding one-time items, the company posted underlying profit before tax of £18.2 million, up from £15.0 million in the prior-year period.
Operating profit increased to £62.6 million from £15.1 million last year.
Underlying operating profit rose to £73.6 million from £67.6 million last year.
Net loss attributable to equity holders of the parent narrowed to £16.2 million, or 2.0 pence per share, from a loss of £61.5 million, or 7.7 pence per share, a year earlier.
Underlying loss attributable to equity holders of the parent decreased to £4.2 million, or 0.5 pence per share, from a loss of £16.3 million, or 2.0 pence per share in the previous year.
On an underlying Pre-IFRS 16 basis, the company recorded earnings of £8.9 million or 1.1p per share compared with a loss of £3.3 million or 0.4p per share a year ago.
Revenue rose 6.2% to £1.763 billion from £1.661 billion in the corresponding period last year.
For the full year, the company said its earnings per share outlook remains within the market consensus range of 13.6p - 14.8p.
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