Adds shares in paragraph 5, context and details on sales in 2-3, analyst comment in 6
Jan 23 (Reuters) - SSP Group SSPG.L reiterated its annual forecast on Friday after logging strong first-quarter sales, supported by a robust UK business and pick-up in North America, as the Upper Crust owner pushes ahead with its turnaround efforts to boost margins.
The company, which operates food outlets at airports and train stations worldwide, is cutting costs, refreshing offerings, improving customer experience and expanding in high‑growth markets to lift profits and offset weakness in Europe.
"The new financial year has started well, with positive revenue momentum. We are making good progress in driving improved performance," the company said.
Group like-for-like sales rose 5% year-on-year on constant currency rates in the three months to December 31, despite some seasonal fluctuations and the U.S. government shutdown creating some volatility.
SSP Group shares were up 2.2% in early trading in London.
RBC Capital Markets analysts said they were encouraged by "particularly strong trends" in the UK, with SSP continuing to gain share in the key U.S. travel market. They said SSP's update could be a positive for other travel-related companies.
($1 = 0.7440 pounds)
(Reporting by Neeshita Beura and Ankita Bora in Bengaluru; Editing by Subhranshu Sahu)
((Neeshita.Beura@thomsonreuters.com))
