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SSP takes up to £5m coronavirus profit hit in February

By BFN News | 07:48 AM | Wednesday 26 February, 2020

Travel location convenience store group SSP warned that the ongoing coronavirus outbreak had taken a £5m chunk out of its operating profit, as footfall plunges at airports across Asia. Revenue for the month of February alone was expected to be reduced by £10m-to-£12m and profit by £4m-to-£5m, the company said. SSP said the UK, continental Europe and North America accounted for about 86% of its revenue. The remainder was generated by its rest of the world division, which included Asia, India and the Middle East. In China, the company had seen a 90% plunge in air traffic, with Hong Kong posting a 70% fall. Actions were being taken to reduce costs, including via the closure of stores and reduced operating hours. 'Clearly the duration of the COVID-19 virus and its impact on global travel is uncertain at this stage, as are its consequences for our financial performance for the full year,' SSP said. 'We will continue to take all the necessary action as appropriate.' Story provided by

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