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LSG Group posts year of growth in trading update

22nd Mar 2017 - 10:08
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LSG Group posts year of growth in trading update
Abstract
The LSG Group, a provider of airline catering, closed the 2016 business year with revenue growth of 5.7% to £2.7 billion (€3.2bn) over the previous year.

The group achieved an adjusted EBIT of £8.9 million (€104m), £4.3 million (€5m) above the 2015 figure.

Chief executive officer, Erdmann Rauer, said: “Our traditional catering services, providing culinary expertise and seamless logistics, are being marketed under the well-known LSG Sky Chefs brand.

“Looking ahead, we will keep concentrating on developing new products and services in close proximity to our customers and the markets while strengthening the LSG Group’s position as the leading provider of end-to-end on-board products and services.”

For fiscal year 2017, the LSG Group expects a slight surge in revenues and a significantly lower Adjusted EBIT compared to 2016. The expected decrease in earnings is mainly due to the transformation of the business model, particularly in Europe. 

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