SSP Group plc (SSPG.L), an operator of food and beverage outlets in travel locations, on Tuesday reported pre-tax loss in the first half compared with profit in the previous year. Looking ahead, the company reaffirmed the full year 2025 guidance.
For the half year, IFRS loss before tax came in at 37 million pounds compared with profit before tax of 13 million pounds last year.
On a per share basis, the company posted loss of 7.7 pence versus loss of 1.3 pence last year.
Underlying loss per share was 0.4 pence, compared to loss of 1.0 pence per share last year.
Underlying pre-IFRS EBITDA increased 8 percent to 114 million pounds from 106 million pounds in the same period last year.
For the half, IFRS underlying operating profit increased 17% year-over-year to 68 million pounds, and underlying Pre-IFRS operating profit increased 20% to 45.4 million pounds.
Revenue increased 9% to 1.66 billion pounds from 1.52 billion pounds in the previous year.
Further, the company increased interim dividend by 0.02 pence per share from last year to 1.4 pence per share.
For fiscal 2025, SSP still expects revenues to range between 3.7 billion pounds and 3.8 billion pounds and operating profit to range between 230 million pounds and 260 million pounds.
The earnings per share for the full year are expected to range between 11.5 pence and 13.5 pence on a constant currency basis. If current exchange rates hold, full-year EPS is expected to range from 11 pence to 13 pence.
For the medium-term, for the years 2026 to 2028, total sales growth is expected to range between around 5% and 7% per annum and LFL growth of around 3% per annum.
Operating profit margin for medium-term is expected to grow to 20 to 30 bps on average per annum.
Earnings per share are expected to achieve sustainable double-digit growth for the medium-term.
The dividend target payout ratio is expected at c.30% to 40%.
SSP is currently trading 2.27% higher at 171 pence on the London Stock Exchange.
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