Page 59 - Upper Crust News Today

FTSE 100 falls over cautious Gove comments PA 17 December 2020, 5:07 pm Traders were left scratching their heads over what to make of the latest comments coming from Brussels and London regarding the ongoing negotiations on an EU-UK trade deal. As a result, the FTSE 100 closed the day down 19.85 points, or 0.3%, at 6551.06 – unable to keep up the momentum from Wednesday. Michael Hewson, chief market analyst at CMC Markets UK, explained: “The FTSE100 has slipped back a touch, unable to gain ...

Upper Crust owner SSP swings to huge loss as travel restrictions continue SSPs outlets are focused on travel hubs, which have suffered a huge drop in passenger numbers during the pandemic (AFP via Getty Images) Upper Crust owner SSP swung to a huge loss this year as the travel food operator’s sales suffered a sharp drop due to a reduction in passenger numbers. Profit plunged from £197.2m in 2019 to a loss of £425.8m in the year ended 30 September as the impact of coronaviru...

London pre-open: Stocks to edge up ahead of BoE announcement Thu, 17th Dec 2020 07:33 (Sharecast News) - London stocks were set to edge higher at the open on Thursday, supported by hopes of a Brexit deal and further US stimulus, as investors eyed the latest policy announcement from the Bank of England. The FTSE 100 was called to open 13 points higher at 6,584. CMC Markets analyst Michael Hewson said the BoE is not expected to take any action on monetary policy given that it acted last month, by...

Baguette bakery Upper Crust has reported sales are down. - Credit: Upper Crust Upper Crust baguette chain, with an outlet in Norwich railway station,  is suffering a £425.8m annual loss due to the pandemic. Owners, the SSP group, which has food and drink sites in airports and railway stations, said the losses over the year to September 30 compared with pre-tax profits of £197.2m in 2019. SSP has been hit hard by plummeting passenger numbers during the pandemic, with sales as much as 93pc ...

By Alec Mattinson2020-12-17T08:57:00+00:00 Top story Travel specialist SSP Group has reported a near-50% plunge in annual revenues and a £426m pre-tax loss as the coronavirus and collapse in traveller numbers weighed on the business. The operator of Upper Crust has reported a 47.9% constant current revenue drop in the year to 30 September, comprising a like-for-like sales reduction of 50.8% offset by net contract gains of 2.9%. At actual exchange rates, total revenue fell by 48.7%, to £1.4b...

L ondon-based catering giant SSP today reported dramatic year-end results showing a nearly £240 million dive into the red. The FTSE 250 firm, behind airport and railway station staples Upper Crust and Caffe Ritazza, is heavily reliant on tourism and commuter traffic. The group, which operates in 180 airports across 36 countries, revealed a £239.6 million pre-tax loss on an underlying basis in the year to September 30, down from a £203.2 million underlying pre-tax profit a year earlier. Eve...

London open: Stocks edge up amid Brexit hopes, ahead of BoE Thu, 17th Dec 2020 08:24 (Sharecast News) - London stocks edged higher in early trade on Thursday, supported by hopes of a Brexit deal and further US stimulus, as investors eyed the latest policy announcement from the Bank of England. At 0845 GMT, the FTSE 100 was 0.3% firmer at 6,593.17, while the pound was up 0.5% against the dollar at 1.3575, reaching its strongest level since May 2018 on the back of Brexit optimism and greenback we...

Upper Crust owner is one of the pandemics biggest losers Confusing Covid guidance from the Government has dashed hopes of a revival at SSP This article is from The Telegraph’s City Intelligence newsletter. Sign up here for incisive analysis of the days biggest corporate story from our chief City commentator Ben Marlow. We wanted the Christmas Grinch, we got the festive flinch. Not for the first time during this crisis, Boris Johnson bottled a big decision. So from a Government who gave us ...

The FTSE 250 has closed up 1%, or 199.48 points, at 20,296.04  16:39 Bitcoins market capitalisation is higher than any other major bank Bitcoin’s $421.28billion market cap is higher that that of any bank, according to data from Bankr. By comparison, JP Morgan has a market capitalisation of $367.8billion, the Industrial and Commercial Bank of China is at $258.07billion, and Bank of America is at $248.45 billion. 16:35 Good times: Watches of Switzerland raises revenue guidance Watches of S...

By Reuters Staff (Adds CEO comment, details on outlook and covenant waivers, background) Dec 17 (Reuters) - SSP Group, the owner of the Upper Crust and Caffe Ritazza snack chains, said on Thursday it expects first-quarter sales to sink 80% due to rising COVID-19 cases in Europe after it reported an annual loss. A resurgence in coronavirus infections and further lockdowns in the United Kingdom and continental Europe have resulted in further volatility in passenger numbers, which is expected to c...