Ssp Share Discussion Threads

[sogoesit] 26/1/2018 15:50

Lots of folks don't read RNS diligently; not unusual.
He appears to be concentrating on the forward looking price valuation rather than income returns or total returns as he concentrates on the PER being paid.
The 21p has been known about since the results on 22 November last year so should have been priced in.

[plasybryn] 26/1/2018 14:15

But he doesn't mention the £100m being returned to share holders by way of Special dividend? Bit of an omission?

[sogoesit] 26/1/2018 13:26

Phil Oakley of sharepad is sceptical... from page 11:

[philanderer] 26/1/2018 00:57

From SSP Group website 25th january..


Special dividend = 20.9p


Consolidation:

Shareholders will receive 30 New Ordinary Shares in substitution for every 31 Existing Ordinary Shares held at the Record Time.

Dates and details here:

[philanderer] 25/1/2018 21:03

Plasybryn , they look like delayed reported trades from earlier in the day.

[plasybryn] 25/1/2018 19:08

Good after hour trades.

[philanderer] 25/1/2018 18:05

Got plenty of these sf ;-)

Top FTSE 250 faller today.

[scottishfield] 25/1/2018 17:36

(get more then )

[philanderer] 25/1/2018 16:25

What a disappointment.

Back to 600p for chart support then ?

[philanderer] 25/1/2018 09:28

cable 1.4250 !

[sogoesit] 24/1/2018 17:15

Autogrill also were into Kate Swann's old business (adjacent to Food & Beverage) but spun-off:

From their web-site:
"After the HMSHost acquisition, the Group continued looking for further opportunities to consolidate its presence in airports, which at the turn of the millennium registered a remarkable increase in travellers and became the segment with the highest long-term growth potential.

The idea was diversifying into businesses adjacent to Food & Beverage, turning the Group into a global player in travel services: thus, it entered the Travel Retail & Duty Free segment by purchasing Aldeasa in 2005, and followed up with a string of takeovers in the same industry. After the acquisitions of Alpha Group (2007) and World Duty Free (2008), Autogrill was the leader not just in Food & Beverage but also in the Travel Retail & Duty-Free segment.

This story came to an end on October 1st 2013, when Autogrill spinned off its Travel Retail & Duty Free business into a newly independent World Duty Free S.p.A., allowing the two companies to better pursue their growth strategies in their respective segments."

WH Smith have a global presence ("real estate") in airports I note from my travels and sell food (well, take-away sandwiches) and drinks... not to mention UK railway stations.

[philanderer] 24/1/2018 13:42

FT Alphaville carrying on from yesterday's comment...



So ........ the idea here seems to be around SSP and Autogrill fitting together.

Which isn't a new thought. But note that the latter's quite a bit smaller than the former, and the former trades at a significant premium to the latter.

Concession catering is a very fragmented sector, but it's a big three and a thousand independents. Any kind of merger would also reduce the possible bidders for airport concessions and the like from three to two, which seems to me deeply antitrust.

though without much of a regulator, as you've reminded us

Indeed. Anyway, I note the idea solely as something that people are talking about right now. Don't know if there's anything in it.

[philanderer] 24/1/2018 08:56

24th jan Numis add tp 710p up from 670p
24th jan Liberum buy tp 720p up from 675p

[broadwood] 23/1/2018 18:45

Thanks for the illuminating post phil.

[philanderer] 23/1/2018 18:19

Nearly 2.5 million shares traded today

UT: 400k @ 675p

[sogoesit] 23/1/2018 16:37

Yeah, well, nothing more to be said about today's performance!

[philanderer] 23/1/2018 13:30

Sure is sf :-)

Should get notification of that special dividend within a couple days . Stifel saying circa 21p ... plus the share consolidation details.

[scottishfield] 23/1/2018 12:39

A good response now to the recent dip(s) phil.

[philanderer] 23/1/2018 12:22

Plenty on FT Alphaville..... brokers and comment.


Thought this was interesting....


...Neither does it explain why there seems to be a bit of noise around SSP right now with regards M&A.

11:41 am
BE
Which is a wee bit curious. The foodservice tender industry is already fairly concentrated between SSP, Autogrill and Elior ......

11:43 am
BE
...... There's a soft underbelly of small operators for train stations and stuff like that, but the bigger franchises -- airports etc -- tend to be divided up between the same few operators.

11:44 am
BE
Difficult to see a consolidation theme. Anyway, I'll just note that SSP seems to be on a few watchlists right now and will leave it there.

[sogoesit] 23/1/2018 11:37

No drama indeed.
I thought the update was a bit "underwhelming" given the growth to date and the market would be a bit deterred but the market disagrees!

[philanderer] 23/1/2018 11:20

23rd jan ShoreCap 'buy' . reiterates


SSP Group shares rise as new contract wins push up revenue

....The FTSE 250 company has been on a winning streak for contract gains and acquisitions, with analysts at Canaccord Genuity this morning saying: "It's a purple patch for new business."

[philanderer] 23/1/2018 09:52

I wish all my holdings were like this one ;-)


23rd jan Liberum buy tp 675p

reiterates

[davr0s] 23/1/2018 09:18

Thankfully no drama here then - good