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SSP Group PLC on Thursday started a share buyback worth up to £100 million, as it said its annual results will be mostly in line with expectations. London-based SSP operates food and beverage outlets in travel locations across 38 countries, and it said the results were achieved despite slowing growth in passenger numbers in the second half of the year, which ended on September 30. Operating profit is estimated be about £230 million, up 11% on a constant currency basis, with an operating margin of 6.2%, improved by 20 basis points. Revenue of £3.7 billion will be up 8% from a year before, also at constant currency. At actual exchange rates, operating profit is expected to be £220 million on £3.6 million in revenue. These results are at the bottom of SSP’s planning assumptions of £230 million to £260 million in operating profit and £3.7 billion to £3.8 billion in revenue at constant currency and £220 million to £250 million in operating profit and £3.6 billion to £3.7 billion in revenue at actual currency. However, they are improved on the year before. In financial 2025, SSP reported £206 million in operating profit on £3.4 billion in revenue. Earnings per share, however, is estimated to be in the middle of planning assumptions. EPS is estimated to be 12.3 pence at constant currency and 11.5p at actual rates, compared to planning assumptions of 11.5p to 13.5p and 10.8p to 12.8p, respectively. In financial 2025, EPS was 10.0p. Sales in the fourth quarter alone - running from July to September - were up 4% on year at constant currency, or 3% at actual rates. Like-for-like sales were up 2%, led by 6% growth in the UK & Ireland and Asia-Pacific & Eastern Europe Middle East, but dragged by a 2% decline in North America. SSP said the trend of lower passenger numbers at US airports continued in the recent three months. Looking ahead, SSP said it expects its financial 2026 results to be in line with the current market view of EPS between 12.9p and 13.9p. SSP will release its full annual results on December 4. The company said it has commissioned Barclays Bank PLC to run its £100 million share buyback, starting on Thursday and completing by October 9 next year. All repurchased shares will be cancelled. SSP shares were down 0.9% to 165.16p on Thursday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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