By Adam Whittaker
SSP group slipped to a pretax loss on IT-transformation costs and impairments but backed its fiscal-year guidance.
The food-and-beverage company said Tuesday that for the six months ended March 31 it reported a 37.3 million pound ($49.8 million) pretax loss, down from a pretax profit of 12.8 million pounds in the same period a year prior.
The company said its earnings were hit by non-cash IT-transformation costs and impairments in France and Italy.
Operating profit--a company preferred metric--fell to 15.1 million pounds from 57.7 million pounds. Revenue rose to 1.66 billion pounds from 1.52 billion pounds.
SSP backed its full-year guidance and said on a constant currency basis, it continues to expect revenue between 3.7 billion and 3.8 billion pounds, and operating profit between 230 million and 260 million pounds.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
May 20, 2025 02:45 ET (06:45 GMT)
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