Ssp Share Discussion Threads

[philanderer] 27/2/2020 12:27

KEPLER CHEUVREUX CUTS SSP GROUP PRICE TARGET TO 650 (660) PENCE - 'HOLD'

BARCLAYS CUTS SSP GROUP PRICE TARGET TO 670 (735) PENCE - 'OVERWEIGHT'

[philanderer] 27/2/2020 12:08

27th feb Liberum buy tp 700p cut from 780p
26th feb Shore Cap buy -

[johnsoho] 26/2/2020 10:54

26 February 2020

SSP GROUP PLC

SSP AGM and update on the COVID-19 virus

SSP ("SSP" or "the Group"), a leading operator of food and beverage outlets in travel locations worldwide, will today hold its Annual General Meeting and, ahead of this, issues an update to the market on current trading and the impact of the COVID-19 virus (Coronavirus).

In the current financial year trading in the UK, Continental Europe and North America, which together account for approximately 86% of Group revenue, has been in line with our expectations. In the Rest of the World, which accounts for 14% of group revenue and comprises the Asia Pacific region, India and the Middle East, we have seen an impact from the COVID-19 virus.

Since the escalation of the virus during January, our immediate priority has been the health and safety of our colleagues, customers and partners based across China and the Asia Pacific region. We have worked closely with our teams and local authorities to implement a range of additional health and safety policies and protocols covering hygiene, travel and quarantine periods, in order to keep people fully informed and as well protected as possible against infection.

In terms of the impact at the airports in which we operate across the region, in China we have seen sharp declines in both domestic and international air passenger numbers, which are currently running c. 90% lower YOY. In Hong Kong passenger numbers are c. 70% lower YOY and across a number of our other Asia Pacific countries, including Singapore, Thailand, Taiwan and the Philippines, passenger numbers are between 25% and 30% lower YOY. Elsewhere, we have also seen some impact at our airports in Australia, as well as at major travel hubs in the Middle East and India, although to date this has been less severe.

In response to the sharp fall in sales in China and across the Asia Pacific region, we have been working with our clients to maintain appropriate service levels, whilst taking all the necessary action we can to reduce costs, including the temporary closure of units and reduced operating hours.

In terms of the financial impact of COVID-19, our expectation is that for the month February sales across the Asia Pacific region (which accounts for approximately 8% of SSP Group revenues) will be approximately 50% lower YOY. Together with the impact in the Middle East and India, this is expected to reduce overall Group revenue in February by approximately GBP10m - GBP12m, with a corresponding reduction in operating profit of approximately GBP4m - GBP5m.

Summary and outlook

Clearly the duration of the COVID-19 virus and its impact on global travel is uncertain at this stage, as are its consequences for our financial performance for the full year. We will continue to take all the necessary action as appropriate. O ur strategy remains unchanged, and we continue to be well placed to benefit from the significant structural growth opportunities in our markets over the medium term and to create ongoing value for our shareholders.

[philanderer] 25/2/2020 18:04

Just about a two year low.

[philanderer] 24/2/2020 10:56

johnsoho , you could be right on this.

Thanks for originally starting this thread.

[johnsoho] 24/2/2020 08:43

Held these for a long long time but now sold as I think the Coronavirus is going to have a pretty big impact on air travel etc.

[philanderer] 21/2/2020 18:19

Coronavirus: air travel demand 'will fall for first time in 11 years

[philanderer] 19/2/2020 00:07

'Local F&B brand Big City Chicken introduced at Chicago Midway International Airport'


The Chicago Department of Aviation and Midway Partnership have officially unveiled Big City Chicken, the latest food & beverage opening at Midway International Airport. The new eatery has been introduced in partnership with brand owner Lettuce Entertain You and SSP America.

[philanderer] 18/2/2020 13:25

'SSP America Sets Seattle Neighborhood Street Scene for Lively Airport Experience'

[philanderer] 10/2/2020 11:04

GOLDMAN RAISES SSP GROUP PRICE TARGET TO 630 (595) PENCE - 'SELL'


"....sell SSP because of “slowing top-line growth and more limited margin upside, which is putting pressure on cash returns”.

[philanderer] 05/2/2020 19:24

SSP Group has announced securing a new 10-year contract at Dublin Airport by bringing the best of Ireland’s local food scene to the airport. The deal will see SSP trade 24 units at the airport, and once the investment programme has been completed, is expected to contribute approximately €40-50m revenue per annum by 2023.

[philanderer] 03/2/2020 20:39

Citigroup today reaffirms its buy investment rating on SSP Group Plc (LON:SSPG) and raised its price target to 740p (from 720p).


StockMarketWire.com

[philanderer] 29/1/2020 13:56

HSBC upgrading to 'buy' ... tp 800p

[philanderer] 28/1/2020 13:27

28th jan UBS 'neutral' tp 675p cut from 680p

[philanderer] 24/1/2020 10:22

Just SSPG in the red for my lot so far this morning.

[philanderer] 23/1/2020 10:13

Coronavirus..

World Health Organization in Geneva last night said it needed more time before determining whether the situation is an international health emergency.

Bloomberg

[philanderer] 21/1/2020 13:10

SSP also intends to acquire German group Station Food, which will add £10mln to revenue in 2020.

The 28 new food and beverage units at German railway stations would be fully integrated in 2021.

Broker Liberum said: “We continue to believe that the stock offers good value given the resilient, high growth nature of the business, despite the ongoing market and economic challenges.”

proactiveinvestors.co.uk

[philanderer] 21/1/2020 10:24

And it's a poor market day to report as well. Looks fine.

[aaspell] 21/1/2020 07:53

Doesn't look like bad news - just in line with expectations

[philanderer] 20/1/2020 17:13

Jeez , I hope bad news hasn't leaked to a few.

[philanderer] 20/1/2020 10:44

And some nervous selling ahead of tomorrow's numbers ?

[philanderer] 17/1/2020 18:20

Q1 trading update on tuesday.

[philanderer] 10/1/2020 13:37

(Alliance News) - Stock prices in London were mixed at midday on Friday, with travel stocks in the green after Ryanair raised its annual profit guidance.

[philanderer] 23/12/2019 20:25

Yes, deal was completed last friday.