The company, which runs food outlets at transport sites such as airports and railway stations, posted an operating profit of £91.5m for the year to September 30, compared with a £309.2m loss a year earlier.

Meanwhile, the firm saw revenues jump by 162 per cent to £2.18bn over the year, aided by a particularly strong second half, following the easing of pandemic restrictions.

SSP said the new financial year has started strongly and it is targeting sales of up to £3bn for the 2023 financial year.

Upper Crust owner SSP has swung back into profit

It said strong momentum in passenger numbers from this summer has continued over the autumn, to keep recent sales ahead of pre-pandemic levels.

The group highlighted a particularly strong performance in North America, where it has benefited from the sharp recovery in domestic air travel and new business.

However, UK trade has seen a much slower recovery, with sales over the past eight weeks at only 84 per cent of pre-pandemic levels amid slower demand at rail sites, amid continued industrial action by railway workers.

SSP said it will pump around £250m into capital expenditure next year as it seeks to accelerate new openings globally.

SSP Group chief executive Patrick Coveney said: “This has been a year of strong recovery for SSP, with momentum building strongly through the second half and into our new financial year.”

Upper Crust owner SSP returns to profit as travel sector recovers