SSP Group (SSPG)

Sector:

Food Pharmacy Retail

Index:

FTSE 250

219.20p
   
  • Change Today:
      1.80p
  • 52 Week High: 281.20
  • 52 Week Low: 179.50
  • Currency: UK Pounds
  • Shares Issued: 798.07m
  • Volume: 657,579
  • Market Cap: £1,749.37m

SSP cuts jobs, cancels divi, seeks cash from banks, govt

By Frank Prenesti

Date: Wednesday 25 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Airport food concession operator SSP cancelled its interim dividend, cut jobs and said it was in advanced talks with the UK government on a financial support package as European revenues slumped by 80% due to the coronavirus.
The company, which has seen its business hammered as governments imposed travel bans to combat the pandemic said it had agreed a new ?112m, 18 month credit facility with HSBC, Lloyds and Natwest banks, subject to a new issue of shares worth 20% of its share capital.

SSP, which issued a profits warning last month said said revenue during march would be 40% - 45% lower year on year with a corresponding reduction in operating profit of around ?50m - ?60m. It deferred payment of the 6p a share final dividend and added that it was renegotiating rents to save cash.

Including the impact of Covid-19 on current trading, SSP expected a fall in interim group revenue of 3% on a constant currency basis, made up of a like-for-like sales decline of approximately 8% and net gains of approximately 5%.

"SSP has considered a very pessimistic scenario assuming an almost total shutdown of the travel market for the whole of the second half of the financial year, with group revenue being down approximately 80% to 85% in H2 2020 against the same period last year," the company said.

It added that it had closed down several of its airport operations an started laying off staff, while implement a "significant" pay cut for all senior management, executives and board members.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SSP Group Market Data

Currency UK Pounds
Share Price 219.20p
Change Today 1.80p
% Change 0.83 %
52 Week High 281.20
52 Week Low 179.50
Volume 657,579
Shares Issued 798.07m
Market Cap £1,749.37m

SSP Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.5% below the market average79.5% below the market average79.5% below the market average79.5% below the market average79.5% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
10.29% above the market average10.29% above the market average10.29% above the market average10.29% above the market average10.29% above the market average
7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average
Income
82.6% below the market average82.6% below the market average82.6% below the market average82.6% below the market average82.6% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Growth
87.67% above the market average87.67% above the market average87.67% above the market average87.67% above the market average87.67% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average

What The Brokers Say

Strong Buy 7
Buy 5
Neutral 3
Sell 0
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SSP Group Dividends

  Latest Previous
  Final Final
Ex-Div 01-Feb-24 05-Mar-20
Paid 29-Feb-24 04-Jun-20
Amount 2.50p 6.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 422,160 @ 219.20p
16:35 19 @ 219.20p
16:35 104 @ 219.20p
16:35 37 @ 219.20p
16:35 9,090 @ 219.20p

SSP Group Key Personnel

Chair Mike Clasper
CEO Patrick Coveney

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