SSP Group PLC
28 July 2026
28 July 2026 LEI: 213800QGNIWTXFMENJ24
Q3 TRADING UPDATE
LFL SALES +4%; ON TRACK TO DELIVER FULL YEAR EXPECTATIONS
SSP Group plc ("SSP" or "the Group"), a leading global food and beverage operator, issues a Trading Update covering the third quarter ("Q3") of its 2026 financial year (1 April to 30 June 2026) and the nine-month period ended 30 June 2026.
Group trading performance
Group sales in Q3 were up 4% year-on-year on a constant currency basis including like-for-like ("LFL") sales growth of 4%. This performance reflected sustained quarter-on-quarter trading momentum in three of our four regions but a significant contraction in passenger numbers in our APAC & EEME region due to the conflict in the Middle East, in line with trends initially described at our Interim Results in May.
|
Q3 sales |
|
Vs Last Year (constant FX rates) |
|
vs Last Year (actual FX rates) |
|||
|
Region |
|
LFL |
Net Gains |
Other* |
Total |
|
Total |
|
N.America |
2% |
2% |
0% |
4% |
4% |
||
|
C.Europe |
2% |
0% |
(2)% |
0% |
3% |
||
|
UK & I |
11% |
(3)% |
0% |
8% |
8% |
||
|
APAC & EEME** |
(2)% |
7% |
0% |
5% |
6% |
||
|
Asia Pacific |
2% |
||||||
|
E. Mediterranean |
3% |
||||||
|
Gulf |
(35)% |
||||||
|
Group |
|
4% |
1% |
(1)% |
4% |
|
5% |
*Other comprises impact from the staged exit of the German MSA business
**APAC & EEME comprises Asia Pacific, the Eastern Mediterranean and the Gulf representing 12%, 2% and 2% of annual group
sales respectively
In North America, against a backdrop of more subdued passenger numbers towards the end of the quarter, sales grew by 4% YoY on a constant currency basis, with LFL sales growth of 2% following improvements to our proposition. Net gains of 2% largely reflected an increase in the number of restaurants across our existing airport footprint in the region.
In Continental Europe, sales remained stable overall YoY which included like-for-like sales growth of 2%. We continue to focus on driving profitability in the region through our operating improvement plan. In addition, we are making good progress in implementing the actions identified by the European Rail review.
In the UK & Ireland, sales rose by 8% YoY with LFL sales growth of 11% supported by positive seasonal trading, a strengthened customer proposition and robust operational delivery. Performance also included a modest benefit from lapping last year's M&S cyber incident.
In APAC & EEME, LFL sales fell by 2% YoY and slowed by 10% quarter-on quarter due to the effects of the Middle East conflict which have led to lower passenger numbers in the Gulf and in key travel hubs across the region. For Q3 as a whole, the Gulf markets traded at c.65% of prior year levels. Lower-than-planned LFL sales growth in the surrounding Eastern Mediterranean and Asia Pacific regions of 3% and 2% respectively reflected less local traffic as well as lower connecting volumes across the network.
For the nine-month period ended 30 June 2026, Group sales were up 5% on a constant currency basis including LFL sales of 5%.
Outlook
Trading for the Group as a whole has remained in line with our expectations through Q3, with like-for-like sales growth of 4%. While trading conditions in the Gulf and the surrounding region remain uncertain, our focus remains on what we can control, notably customer and operational delivery through our peak summer trading period. We are making good progress with our 'Focus 26' operational plans which position us well to strengthen profitability, cashflow and returns on investment. Assuming the current operating environment remains substantially unchanged, and at today's FX rates1, we remain on track to achieve our expectations2 for the Group for the full-year.
Notes
1. If the current spot rates (as of 22 July 2026) were to continue through this financial year, we would expect a currency impact on revenue and operating profit of +0.3% and (1.6)%, compared to the average rates used for 2025.
2. Our expectations for the full-year, as stated at our Interim Results, include:
· EPS delivery within a range of 13.6-14.8p (post share buyback)
· Improving free cash flow (pre-dividend and pre-share buyback) to >£100m
· Further progress in ROCE towards our medium-term target of 20%
Share buyback
We have now completed £76m of the £100m share buyback we initiated in October 2025.
2026 full year results announcement
SSP's results for the full year ending 30 September 2026 are expected to be released on 8 December 2026.
CONTACTS
Investor enquiries
Sarah Roff, Group Head of Investor Relations, SSP Group plc
+44 (0) 7980 636214
E-mail: sarah.roff@ssp-intl.com
Media enquiries
Ben Foster / Russ Lynch, Sodali & Co
+44 (0) 207 250 1446
E-mail: ssp@sodali.com
NOTES TO EDITORS
About SSP
SSP Group plc (LSE:SSPG) is a global leading operator of food and beverage outlets in travel locations employing around 49,000 colleagues in over 3,000 units across 38 countries. We specialise in designing, creating and operating a diverse range of food and drink outlets in airports, train stations and other travel hubs across six formats: sit-down and quick service restaurants, bars, cafés, lounges, and food-led convenience stores. Our extensive portfolio of brands features a mix of international, national, and local brands, tailored to meet the diverse needs of our clients and customers.
Our purpose is to be the best part of the journey, and we are committed to delivering leading brands and innovative concepts to our clients and customers around the world, focusing on exceptional taste, value, quality and service. Sustainability is crucial for our long-term success, and we aim to deliver positive impact for our business while uniting stakeholders to promote a sustainable food travel sector.
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