StockMarketWire.com - Airport and railway focused retailer SSP said it would return up to £100m to its shareholders through a share buyback.

The company also announced a 7.8% rise in annual profit for the year through September to £197.2m.

The buyback programme would begin immediately and will end no later than 20 November 2020.

The company said the move underpinned its confidence in the business and commitment to maintain an efficient balance sheet.

SSP's revenue rose 9.0% to £2.80bn and its underlying operating profit rose 13% to £221.1m.

The company declared a full-year dividend of 11.8p per share, up 16% on-year.

'The new financial year has started in line with our expectations and, whilst a degree of uncertainty always exists around passenger numbers in the short-term, we continue to be well placed to benefit from the structural growth opportunities in our markets and to create value for our shareholders,' chief executive Simon Smith said.

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