SSP Group interims to dominate on quiet Wednesday


The mid-point of the week is scheduled to be a quiet one in terms of both corporate and macro news.

However, investors may want to take a look at SSP Group, which reports its interims, and real estate investor Urban Logistics which is reporting finals.

SSP Group ploughs on with expansion plans as international travel slowly reopens

SSP Group plc’s (LON:SSP) interims on Wednesday may make a slightly less painful read than usual as the world is slowly opening up to travel (except the UK).

The company operates catering outlets, under its brands like Ritazza and Upper Crust, and runs concessions for Burger King and Starbucks at 180 airports and 300 railway stations around the world, so it has been hammered by travel restrictions imposed during the pandemic.

SSP has battened down the hatches by radically cutting costs, furloughing 22 thousand staff and raising £475mln through a rights issue to shore up its finances.

The share price recovering a little during the start of vaccine rollouts but the continued lockdowns across its markets have been a big source of pressure.

“Although much uncertainty still hangs over the sector, it hasn’t stopped management making expansion plans for the future, indicating they were ready to cherry-pick sites abandoned by smaller rivals,” analysts at Hargreaves Lansdown said.

“Choosing the right locations will be key given the working from home trend shows no sign of fully reversing and footfall across rail and air networks is likely to stay subdued.”

Significant announcements for Wednesday June 9:

Finals: Urban Logistics Reit PLC (LON:SHED)

Interims: SSP Group PLC (LON:SSP)


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