BUSINESS LIVE: Upper Crust owner plummets to £300m loss; Probe into BA and Ryanair; Inditex exceeds forecasts
Upper Crust owner SSP has revealed it plunged to a half-year loss of £300million as sales crashed 79 per cent due to global coronavirus restrictions, but said trading was beginning to improve as sites reopen.
The UK’s competition regulator is investigating British Airways and Ryanair over whether they breached consumer laws by not offering refunds to customers for cancelled flights due to the pandemic.
Zara owner Inditex reported a first-quarter net profit of €421million, a number that easily beat analysts’ expectations but was still a third below pre-pandemic levels for the same period a year ago.
Trouble: Upper Crust owner SSP has revealed it plunged to a half-year loss of £300million