SSP Group’s Q1 Sales Rise – Full Year Guidance Reaffirmed

SSP Group (LON: SSPG) has announced an encouraging start to its 2026 financial year, with like-for-like (LFL) sales up 5% in the first quarter. This positive momentum reinforces the company’s full-year guidance, which remains unchanged.

The Group’s Q1 trading update, covering the period from October 1, 2025, to December 31, 2025, reveals a continuation of the strong performance seen in the initial eight weeks. This growth is attributed to a strengthened customer proposition and effective execution of their ‘Focus 26’ operational plan.

Regionally, APAC and EEME led the charge with a 17% increase in sales (constant FX rates), fueled by normalized air capacity in India and robust net gains across the region.

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The UK & Ireland also demonstrated strong performance, with sales rising 8% YoY, driven by air travel and the M&S estate. North America saw a more modest 4% increase, primarily from net gains, while Continental Europe experienced a 1% rise amidst weak consumer sentiment.

Headline Numbers:

• LFL Sales Growth: 5% overall
• APAC & EEME Sales Growth: 17% (constant FX)
• UK & Ireland Sales Growth: 8% (constant FX)
• North America Sales Growth: 4% (constant FX)

SSP Group is actively returning capital to shareholders, having completed £24 million of its £100 million share buyback program initiated in October 2025.

Driver Breakdown:

• APAC & EEME Expansion: Normalizing air capacity in India and strong net gains in the region.
• UK & Ireland Strength: Benefits from a strengthened customer proposition through refresh and renewal programs.
• ‘Focus 26’ Plan: Driving operational improvements and profitability.

CEO Patrick Coveney said, “We have made a good start to the financial year, with LFL sales growth of 5% in the first quarter. We are on track against our ‘Focus 26’ operational plan with a range of programmes underway to deliver sustained improvements in profitability, cash and returns on capital. Given this momentum, we remain confident in our prospects for the balance of FY26 and beyond.”