20-05-2025
Upper Crust owner SSP delays float of Indian business
SSP, the travel catering group behind Upper Crust and Caffe Ritazza, has started a cost-cutting drive and pushed back the planned float of its joint venture in India as it grapples with a 'heightened level of uncertainty' in some of its markets.
The planned initial public offering of Travel Food Services, which it runs with K Hospitality in India, has been delayed to the summer as it waits for stock market conditions to recover.
'Recent geopolitical events have led to a heightened level of uncertainty across some of our travel markets, in particular in North America,' the company said in a statement.
The announcement came alongside half-year results, which showed operating profit at the FTSE 250 company rose 20 per cent to £45 million, up
