IOMINVESTCOM
12 Mar 2017
Questor: Kate Swann a golden egg for sandwich supremo SSP [link]
valeite
23 Jan 2017
jeffries says buy ....sizzling (their word ) prospects for SSP .they particularly like prospects in the USA where a monopoly operator is being challenged .price target £4.5
philanderer
29 Nov 2016
Re: Numis Numis increasing target price to 430p today after those results
philanderer
29 Nov 2016
Investors Chronicle - Buy IC buy tip todayIf you grabbed a coffee at the station this morning there’s a high chance it was from one of the Upper Crust, Ritazza or Starbucks concessions run by SSP Group (SSPG), which is atop the FTSE this morning on the back of strong results.Underlying operating profit is up 18 per cent to £121.4m on a constant currency basis and the jump is even higher when positive foreign exchange movements are factored in. The move by management to take cost out of the business also seems to be working with underlying operating margins up 70 basis points on a constant currency basis to 6.1 per cent. Buy.[link]
nk1999
10 Oct 2016
Numis From ADVFN:"Numis on Monday initiated its rating on SSP at 'buy' with a target of 390p, saying it sees further upside in margins.The broker expects the owner of food and beverage franchises at airports and train stations will achieve a 60 basis point (bp) increase in margins in fiscal year 2016 followed by a 30bp rise in 2017."SSP operates in a structurally growing market exposed to rising air and rail passenger traffic and increased food and beverage space in terminals given customer propensity to eat on the move," Numis said.Numis added that SSP is a market leader in a fragmented market where there are high barriers to entry in airports and stations.The company's historic growth in net new space of just 0.5% reflected a period of contract rationalisation and improved to 1.9% year-to-date, Numis said."We expect a larger contribution in the future as it has built a strong pipeline in North America, China etc. Fracturing of contracts by the North American market leader (HMS Host) presents a particular opportunity for market share gains."SSP benefits from the recent weakness in the pound as 62% of revenues are generated outside the UK. Numis said its forecasts for earnings per share (EPS) in fiscal years 2016 and 2017 are 7% above consensus and suggest "healthy EPS momentum ahead"."Similarly the group has a good track record of beating forecasts and we outline a bluesky EPS scenario of 24p (22% upside). "nk
Market Guru
20 May 2016
Re: upgrades Valeite,It is good, and in the medium to long term, the price should get there. So for the very patient investor, this company is a good one.However, tread with caution as the shares are highly rated and factor in a number of positives. See an excellent summary below as provided by Martin Waller, from the Times newspaper....SSP GroupTerrorist attacks in Egypt, Paris and Brussels have had an inevitable effect on spending at SSP’s outlets at railway stations and airports, but the impact has been relatively muted. Like-for-like sales growth of 4 per cent-plus in the first quarter slowed to about 2.5 per cent in the second and there clearly were few tourist aircraft flying into Egypt, but people merely switched elsewhere, with Spain strongly ahead.There are, I have suggested, three main drivers to SSP’s growth. There is that like-for-like sales improvement, as more tourists travel through the places it serves. There is the opening of new outlets, which contributed another 2 per cent to a 5.9 per cent rise in revenues in the first half, ahead of negative currency effects. And there is the improvement in margins as the business is run more efficiently and new products are on offer, such as new fascias and brands.Operating margins rose by 50 basis points to 3.4 per cent, but they are running well below where they were in 2008, before the onset of the financial crisis.The shares were sold off at the start of the year but have regained their ground, adding another 9p to 309p as the first-half figures came in better than expected, especially in terms of those margins. They sell on almost 22 times’ earnings.SSP has a bit more than 10 per cent of a global market that is growing at perhaps 5 per cent. That multiple requires a degree of growth that will be there in due course, but it does not encourage an immediate “buy”.Revenue £897m Pre-tax profit £23.2m Dividend yield 1.6%MY ADVICE AvoidWHY Long-term growth is there but rating looks high
valeite
19 May 2016
upgrades a positive view of SSP with broker targets from £3.2 to £3.7 ....that's pretty good!
Market Guru
29 Jul 2015
Re: SSP's Captive Market Shoney,SSP's business model is one that I feel is resilient irrespective of what the economic situation is either here in the UK or elsewhere, within SSP's geographic reach.They operate in airports as well as railway stations in 29 countries; and essentially the partner of choice at 125 airports and over 270 rail stations around the globe. So plenty of existing locations but scope for many more in Africa, Asia, USA, Latin America, etc. They're recently won a £57 million six year contract at Hong Kong International Airport too.They know what works when serving the travelling consumer. This might be how they design menus, or the way they serve food. Innovations such as Caffè Ritazza’s ‘Keep Cups’ which allow customers to enjoy their drink while travelling are just one example of how smart packaging can improve the experience of the travelling consumer.Many of their brands, such as Upper Crust and Caffè Ritazza, were created especially for the travel environment. They have an eye for spotting the high-street brands that will perform in the travel environment. YO! Sushi, with its bright and tempting displays, or Caviar House & Prunier Seafood Bars where they serve the highest quality food in what are often technically challenging spaces, are just two examples.They also know how to take a high street favourite, such as M&S Simply Food, and make the small changes needed to turn it into an outlet that will perform at an airport or station. So, with all of the above already emdedded, having an effective and forward looking management team, with Kate Swann as CEO, puts the icing on the cake.All in all, a good medium / long term buy.....something I'd done at the start of this year, with a small profit to date, but forsee significantly higher share price appeciation alongside good uplifts on the dividend payouts in due course.As always, my own views, so do your own research.Regards, M.G.
shoney
29 Jul 2015
SSP's Captive Market The main attractions to this share for me are Kate Swann and the sky high prices their outlets charge at airports. 3 euros for a bottle of coke that costs a euro outside the airport. I appreciate the high level of fixed costs that the company must have taking space within an airport and the likely additional staff costs associated with these sites but the fact people are legaly unable to take liquids into an airport makes the drink element of the offering a real money spinner. So long as passenger numbers remain constant or grow then SSP should prosper
mcescher
29 Jul 2015
Interesting infographic report on SSPG I really like the presentation in this report. The future growth seems really exciting to me [link]
nk1999
06 Dec 2014
Fund Manager dealing "Stephen Message, manager of the strongly performing Old Mutual UK Equity Income fund, talks Rebecca Jones through some of the stocks he has been buying, holding and selling.Buy - SSP GroupMessage bought food and beverage retailer SSP Group (SSPG) during the firm's initial public offering (IPO) in July this year, but he claims the purchase was an unusual move."Typically, I shy away from IPOs, as valuations are too high in my view, but I felt the valuation here was compelling," he says.Message initially paid 210p a share for SSP, which operates cafes and restaurants in airports and railway stations around the world. The firm is now a top-20 holding, accounting for 2.6% of his portfolio. With the share now trading at around 235p, he has already made a modest profit.Message was principally attracted by SSP's valuation, but was also enticed by the promise he saw in the abilities of the firm's management team.This is headed by former WHSmith (SMWH) chief executive Kate Swann, whom he credits with turning WHSmith's fortunes around by reducing the company's costs and improving its profit margins."Today SSP's operating margins are mid-single digits. Swann has a track record of delivering, so I think there is real scope for meaningful margin growth in this business. That in turn is good for dividend growth," Message comments.SSP is now set to focus more on improving costs and profitability rather than growing its top line, which leads Message to conclude that the company is "in charge of its own destiny" and has little to fear from global economic shocks. That perspective makes it "a great long-term buy and hold"."
St Monans
01 Dec 2014
Today's activity Lots of small buys today. Presumably it has been written up somewhere. Does anyone know where?
