Upper Crust owner SSP has today warned of uncertainty from the Omicron variant of the coronavirus.
This is despite sales improving to two-thirds of pre-pandemic levels in recent months thanks to an extended European summer and workers returning to offices.
SSP said today that in stress-testing scenarios regarding the new variant, it assumed that sales and core losses in the second quarter of the next fiscal year could be similar to fiscal 2021 levels, when most countries were under lockdowns.
Most of the company's 2,800 shops are in airports, train stations and other travel locations.
It said underlying pretax losses widened to £251m for the 12 months to September from £239.6m a year earlier.
"Whilst there remains some uncertainty in the immediate outlook over the winter months, particularly over the potential impact of the Omicron variant on travel restrictions, we are confident in our ability to manage any near-term volatility," London-listed SSP said.
Its sales in the first nine weeks of the new fiscal year were averaging at about 66% of pre-COVID levels, an improvement from September, when they were running at about half of 2019 levels.
The company reiterated its expectation for like-for-like revenue to return to 2019 levels by 2024.
Last month Patrick Coveney said he was leaving his position as chief executive of convenience food group Greencore to become Group CEO of SSP Group.
Mr Coveney is due to leave Greencore in March and replaces Simon Smith, who is stepping down this month.
