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 secures access, makes drawdown under Covid finance facility

By Josh White

Date: Wednesday 01 Apr 2020

LONDON (ShareCast) - (Sharecast News) - SSP Group updated the market on the Covid Corporate Financing Facility on Wednesday, confirming that it had secured access and drawn down funding.
The FTSE 250 travel catering giant had indicated on 25 March that it expected to qualify for the joint HM Treasury and Bank of England lending facility, saying it was already "well-advanced" in preparations and discussions with both the Treasury and BoE to access the scheme.

It explained that the facility was designed to provide liquidity for companies which had been impacted by the Covid-19 coronavirus pandemic, by allowing them to issue commercial paper through the Bank of England.

SSP announced on Wednesday that it had secured access to the scheme, and had now made a drawdown of funding.

It said access to the scheme, together with the recent equity placing, would be used to strengthen the firm's balance sheet during the period of "unprecedented disruption" to the global travel market, as a result of the pandemic.

Based on the scenario planning it had undertaken, SSP said the financing arrangements put in place would provide "sufficient liquidity" to enable it to operate through even its most pessimistic trading scenario.

"These are unprecedented times for SSP and for the global travel sector," said chief executive officer Simon Smith.

"Against the backdrop of the significant reduction in global travel, SSP has taken decisive action to dramatically reduce our cost base and downsize our operations in line with demand.

"The financing package that we have secured puts SSP in a really strong position to manage through this crisis and to be in the best shape possible to return to growth as soon as the travel market starts to recover."

At 1550 BST, shares in SSP Group were down 6.54% at 287.4p.

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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
78.51% below the market average78.51% below the market average78.51% below the market average78.51% below the market average78.51% 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
11.89% above the market average11.89% above the market average11.89% above the market average11.89% above the market average11.89% 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
82.83% below the market average82.83% below the market average82.83% below the market average82.83% below the market average82.83% 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
87.38% above the market average87.38% above the market average87.38% above the market average87.38% above the market average87.38% 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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