SSP shares rise as hails trading growth; expects annual earnings rise

(Alliance News) - SSP Group PLC on Tuesday said it continued to anticipate on-year revenue and ...

Alliance News 28 January, 2025 | 10:33AM
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(Alliance News) - SSP Group PLC on Tuesday said it continued to anticipate on-year revenue and earnings growth for the current financial year, noting continued structural growth across the global travel industry.

The London-headquartered operator of food outlets at travel locations and owner of Upper Crust brand is holding its annual general meeting on Tuesday, telling shareholders that trading grew 11% on-year in the three months to December 31, its first financial quarter.

This was driven by a 33% jump in Asia Pacific and Eastern Europe & Middle East, followed by a 14% increase in North America. In the UK & Ireland, growth was 9%, with just 1% growth in Central Europe.

SSP highlighted continued structural growth across the travel industry around the world, with "strong" sales performance across all regions.

Chief Executive Officer Patrick Coveney said: "We have made a good start to the new financial year. Our tightened agenda with a focus on driving returns from recent investments and enhancing efficiency to drive profitability is progressing well. Performance in the structurally growing and higher returning regions of North America and APAC & EEME, where we continue to invest, was particularly pleasing in the quarter. We are confident in our prospects for the balance of FY25 and beyond."

SSP expects revenue of between GBP3.7 billion and GBP3.8 billion for the financial year that will end in September, at least 7.8% higher than GBP3.43 billion in financial 2024.

Earnings per share are anticipated to grow at least 15% to between 11.5 pence and 13.5p, from 10.0p. Operating profit is expected to climb a minimum of 12% to between GBP230 million and GBP260 million from GBP206 million a year prior.

SSP shares were up 5.2% to 180.30 pence each on Tuesday morning in London.

By Tom Budszus, Alliance News slot editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
SSP Group PLC 178.60 GBX 0.06 -

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