Key facts
- SSP Group expects annual operating profit of about £230 million.
- This figure is slightly below analyst expectations of £239 million.
- Q4 like-for-like sales rose 9% in the UK and Ireland.
- North American like-for-like sales grew 2% in Q4.
- SSP Group reported full-year revenue of £3.8 billion, up 5% year-on-year.
- Full-year earnings per share are expected to be approximately 14.0p.
SSP Group, the operator of travel food outlets including Upper Crust, has warned that its annual operating profit will be slightly below previous expectations due to a slowdown in global tourism, particularly in North America. The company cited the impact of the Middle East conflict on air travel and rising fuel costs as contributing factors.
In its Q4 trading update for the period ending September 30, 2026, SSP Group stated it expects annual operating profit of approximately £230 million, falling short of company-compiled analyst expectations of £239 million. This comes despite resilient demand in the UK and Ireland, where like-for-like sales grew by 9% in the fourth quarter. In contrast, North America saw only 2% growth in like-for-like sales during the same period.
CEO Patrick Coveney noted that while the Middle East conflict has impacted passenger volumes in the APAC & EEME region, the company's diversified portfolio positions it to meet current market expectations for group earnings per share. Full-year revenue is projected to be £3.8 billion, a 5% increase year-on-year, with earnings per share expected to be around 14.0p, an 18% rise year-on-year.
SSP also announced the launch of a new share buyback program of up to £50 million, consistent with its capital allocation strategy, following the completion of a previous program. The company anticipates a significant increase in underlying free cash flow year-on-year, with free cash flow expected to be around £70 million.