Ssp Share Discussion Threads

[philanderer] 13/7/2020 13:35

Heathrow Airport says government quarantine measures aimed at curbing imported coronavirus cases resulted in a 7% hit to passenger numbers last month.

[philanderer] 13/7/2020 11:56

Heathrow's passenger numbers were down 95 per cent year-on-year in June, with just 350,000 people travelling through the airport. Its North America and Africa markets saw the biggest declines, according to Heathrow.

[philanderer] 13/7/2020 00:20

Airports ‘may cut 20,000 jobs’ unless rates relaxed

[rs34] 03/7/2020 15:53

This is looking like the same scenario as Corona virus effect in UK around March when all prices dropped. Perhaps now is the time to buy when they are low

[philanderer] 03/7/2020 11:00

3rd july Citigroup buy tp 335p cut from 385p

[philanderer] 01/7/2020 23:57

MARKET REPORT: Railway station and airport cafe chain Upper Crust leaves investors with sour taste after warning it could axe up to 5,000 jobs

[philanderer] 01/7/2020 09:14

Yep a pi$$ poor update.



SSP Group share fell 4.5%. The travel food kiosk operator said the Covid-19 pandemic has had an "unprecedented" hit to the travel sector, so it is reorganising its UK business.

Sales in April and May were about 95% below last year. During June, sales recovered "slightly" and are now running at about 90% below last year, with stronger performances in Continental Europe and North America reflecting the gradual easing of lockdowns in these regions offset by the UK and Rest of World, where sales remain below this level.

"The reality is that passenger numbers still remain at very low levels, a reflection of the extent and duration of the current restrictions in place. In the Rail sector, which represents the majority of SSP's UK operations, passenger numbers remain about 85% lower year on year and the UK Air sector has to date been largely closed," SSP said.

SSP expects only about 20% of its UK units will have opened by the autumn.

"We have therefore come to the very difficult conclusion that we will need to simplify and reshape our UK business, and we are now starting a collective consultation on a proposed reorganisation," the company said. "If the pace of the recovery continues at the current level, this could lead to up to about 5,000 roles becoming redundant from within the head office and UK operations. Clearly, these decisions are very difficult, and our priority is to conduct this process fairly and to support those affected."

SSP expects this reorganisation to cost between GBP8 million to GBP10 million.

Alliance News

[rarther] 01/7/2020 08:27

"sales in April and May were approximately 95% below last year. During June sales have recovered slightly and are now running at approximately 90% below last year"And this company is worth well over a billion. £500m is another fundraise away imho

[rarther] 01/7/2020 08:20

Check the news this morning... reducing workforce by 50%. Travel retail absolutely gubbed for years to come.This could sink under 200p just today.

[rarther] 25/6/2020 17:17

These brokers are either delusional or straight up lying to you.I am from Central London and i can tell you that hardly anyone is travelling by train anymore and out of those who are, definitely no one is buying crusty old sandwiches anymore. SSP's business is selling crusty old sandwiches for high prices in places where there is no competition. The demand side has collapsed and their valuation has yet to collapse.If you are long on SSP... do you know how many stores they have open right now? While sports direct and greggs are open, SSP's crusty sandwich shops are all closed because there is no demand.If you are blind to the realities that anyone living in the UK with a pair of legs can witness for themselves, then you can just await the RNS's stating that Covid 19 stole our baby, our sales are more than 50% down and we are laying everyone off.I only post this negative stuff to help my fellow retail investor avoid holding toxic garbage when it explodes. Leave it to the professionals like UBS and friends to hold it...

[rs34] 25/6/2020 12:11

Time to buy SSPG!

[rs34] 25/6/2020 12:11

Time to buy SSPG!

[philanderer] 24/6/2020 00:15

Shore Cap resumes coverage with 'buy'

[philanderer] 19/6/2020 00:32

rarther , good points well made. It'll be interesting to see who has called it right .. 200p or 400p ?

[rarther] 18/6/2020 16:28

Downgrade from me.The sales are going to be down 40-80% for the next couple of years which means they will be announcing further losses and further capital destruction in the coming months.Market and UBS think it will be slowly bouncing back hence healthy rebound to £1.5bn valuation. Market is wrong. I don't know about you folks but if I do sadly find myself huddled into a train station any time soon (which I will avoid at all costs) I won't be spending £8 on a tiny piece of old bread with questionable fillings served by a zombie in a surgical mask.They need to get rid of at least 10,000 staff but have had it on the back burner this whole time because everyone is getting paid by the governments and the few big shots left at the top have spent months wracking their brains about how to pay the dividend without seeming like they are paying the dividend. It is just going to take one day of them having to contribute towards salaries for them to reveal extent of the slump in sales and announce massive layoffs and send this into a tailspin.(Sell to 200p)

[philanderer] 18/6/2020 09:57

Upgrade from UBS


18th june UBS buy tp 400p

[philanderer] 17/6/2020 18:41

Autogrill could take this lot out sub 500p at the moment if they fancy a gamble ;-)

[philanderer] 15/6/2020 23:52

Missed this last week , HSBC holding from under 3% to 6.6%

[rarther] 09/6/2020 22:55

One million pounds*

[rarther] 09/6/2020 22:55

CFO sold £1m of SSP shares at £3.15.

[philanderer] 05/6/2020 09:42

5th june Barclays 'overweight' tp 400p cut from 670p

[kemche] 04/6/2020 10:09

325 for the breach.

[philanderer] 03/6/2020 13:04

Russ Mould, investment director at AJ Bell, said: 'The share placing announced by travel food and drink concessions operator SSP feels like an act of financial gymnastics.

'The company clearly felt obligated to pay a final dividend which had been approved at the AGM back in February but also wants to conserve cash at a time when much of its business has been wiped out by coronavirus.

'That explains the give with one hand, take away with the other nature of today’s update as the company effectively asks shareholders who are eligible for the dividend, which is to be paid after a delay on 4 June, to reinvest or give the cash back to the business. This "offer" is being extended to retail investors too.

'A bird in the hand is worth two in the bush and it will be interesting to see how many of SSP investors choose to hold on to the cash rather than funnelling it back into a business which faces acute challenges due to the pandemic'

[philanderer] 03/6/2020 12:59

London City Airport says flights to resume shortly

[kemche] 03/6/2020 12:03

1retirement, Whilst I am waiting for the imminence there I thought I would make the odd crust elsewhere.

Excellent podcasts and tangible links though undoubtedly.