SSP Group (SSPG)

Sector:

Food Pharmacy Retail

Index:

FTSE 250

156.00p
   
  • Change Today:
      1.20p
  • 52 Week High: 240.20p
  • 52 Week Low: 144.50p
  • Currency: UK Pounds
  • Shares Issued: 798.50m
  • Volume: 5,155
  • Market Cap: £1,245.65m
  • Beta: 1.63

SSP reinstates interim dividend but profits drop

By Michele Maatouk

Date: Tuesday 21 May 2024

LONDON (ShareCast) - (Sharecast News) - Upper Crust and Ritazza owner SSP was under the cosh on Tuesday as it reinstated its interim dividend but posted a drop in first-half profits.
In the half year to the end of March, pre-tax profit fell to £12.8m from £15.8m in the same period a year earlier, while revenue rose 15% to £1.5bn, with double-digit growth across all regions.

Like-for-like sales grew 12% during the half, with a "very strong" performance in APAC and EEME, reflecting strengthening passenger numbers. There were also net gains of 4% from the mobilisation of the company's new contract pipeline and a contribution of 3% from acquisitions in North America.

SSP hailed "good" underlying EBITDA growth in the UK, as it benefited from a further recovery in passenger numbers and despite some ongoing impact from industrial action in the rail sector.

In Continental Europe, however, profitability was held back by a heightened level of renewals, particularly in the Nordics countries, and greater levels of industrial action in the rail sector in France and Germany.

SSP reinstated its interim dividend at 1.2p a share.

Chief executive Patrick Coveney said: "Trading momentum has continued into the second half, and we are confident in delivering on our expectations for the full year. In particular, we are well set to capitalise on what we anticipate will be a Summer of strong demand in all our markets - including Continental Europe, where the Olympics and the European Championships will help boost footfall in airports and stations. We will also start to realise the benefit of our latest value-creating acquisition in Australia and new market entries in New Zealand and Indonesia.

"As a business we are making good progress on our strategic priorities, thanks to the hard work and commitment of all our colleagues and the support of our clients and brand partners around the world. With our continued momentum and foundations in place for further expansion, we remain confident in our ability to deliver sustainable, compounding growth and returns for all our stakeholders in the years to come."

At 0935 BST, the shares were down 6.6% at 194.90p.

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SSP Group Market Data

Currency UK Pounds
Share Price 156.00p
Change Today 1.20p
% Change 0.78 %
52 Week High 240.20p
52 Week Low 144.50p
Volume 5,155
Shares Issued 798.50m
Market Cap £1,245.65m
Beta 1.63

SSP Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.62% below the market average57.62% below the market average57.62% below the market average57.62% below the market average57.62% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average
Price Trend
49.28% below the market average49.28% below the market average49.28% below the market average49.28% below the market average49.28% below the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Income
59.4% below the market average59.4% below the market average59.4% below the market average59.4% below the market average59.4% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Growth
89.67% above the market average89.67% above the market average89.67% above the market average89.67% above the market average89.67% above the market average
83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average

What The Brokers Say

Strong Buy 5
Buy 6
Neutral 3
Sell 1
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
  Interim Final
Ex-Div 30-May-24 01-Feb-24
Paid 28-Jun-24 29-Feb-24
Amount 1.20p 2.50p

Trades for 22-Nov-2024

Time Volume / Share Price
08:14 12 @ 156.60p
08:14 12 @ 156.50p
08:12 81 @ 156.20p
08:11 124 @ 155.60p
08:07 4,000 @ 155.97p

SSP Group Key Personnel

Chair Mike Clasper
CEO Patrick Coveney

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