Key Points – SSP Group reported a strong first half, with revenue up 6% to £1.8 billion, underlying operating profit up 18% to £50 million, and EPS turning positive to £0.011 from a prior-year loss.
Management said its Focus ’26 plan is beginning to improve profitability, cash generation, and returns. – Middle East disruption is weighing on trading, especially in the Gulf and nearby regions, where sales have fallen sharply and visibility remains limited
However, more than 80% of the business has been largely unaffected, and SSP said its diversified portfolio has helped provide resilience. – SSP is also reshaping its European rail business, planning to exit about one-third of its rail estate to focus on higher-density, higher-return locations. The company expects benefits from this reset to start in fiscal 2027, while it still sees full-year 2026 EPS within market expectations and more than £100 million in free cash flow before dividends and buybacks if conditions hold. SSP Group (LON:SSPG) reported higher first-half revenue and a return to positive earnings per share, as management said its Focus ’26 plan is beginning to support profitability, cash generation and returns despite pressure from disruption in the Middle East.
Group CEO Patrick Coveney said SSP delivered a “resilient first half performance” and made “tangible progress” against each element of its strategy. Group CFO Geert Verellen said revenue rose 6% to £1.8 billion, including 5% like-for-like sales growth, while underlying operating profit increased 18% to £50 million. The underlying operating margin expanded by 30 basis points at constant exchange rates.