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SSP Q1 Sales Grow 5%, Guidance Unchanged

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SSP Group reported a solid start to its fiscal year, posting 5% like-for-like sales growth in the first quarter. This marks an acceleration from the 4% growth seen in the initial eight weeks. Total group sales rose 6% on a constant-currency basis, driven by net gains across most regions, though partly offset by disposals and contract exits.

CEO Patrick Coveney confirmed the company is on track with its 'Focus 26' operational plan, aiming for sustained profitability improvements. The regional breakdown showed stark contrasts: North America grew 4%, while Continental Europe managed only 1% amid softer consumer sentiment. The UK and Ireland stood out with an 8% increase, fueled by strong air travel and Marks & Spencer estate momentum.

The standout performer was APAC and EEME, where sales surged 17% year-on-year, with like-for-like growth improving to 10%. Management cited a normalized aviation environment and strong net gains in this higher-margin region. Despite some volatility from US government shutdowns, SSP reiterated its full-year guidance, targeting EPS of 12.9p-13.9p and free cash flow exceeding £100 million.