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Upper Crust owner SSP expects 80% slump in Q1 sales

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% after it posted an annual loss due to coronavirus-led travel restrictions.

The company, whose chains sell food and drinks in airports and train stations in about 35 countries, posted an underlying pretax loss of 239.6 million pounds ($325.04 million) for the year ended Sept. 30, compared with a profit of 203.2 million pounds a year earlier.

$1 = 0.7371 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya Soni

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