SSP backs full-year guidance as Q1 LFL sales jump 5%

(Sharecast News) - Restaurant, bar and café operator SSP backed its full-year guidance on Friday as it posted a 5% jump in first-quarter like-for-like sales. In an update for the period from 1 October to the end of December 2025, the company said the positive trading momentum seen in the first eight weeks to 25 November continued through the remainder of the quarter.

"As such, our expectations for FY26 remain unchanged," said SSP, which operates in travel locations.

Total group sales grew 6% during the period, with sales in North America 4% higher, driven mainly by net gains as it continues to expand its share within the 57 airports in which it operates. SSP said seasonal fluctuations and the US government shutdown created some LFL volatility during the quarter.

In Continental Europe, sales grew 1% on the year, reflecting 2% LFL sales growth despite weak consumer sentiment and lower spend levels in several markets. "This particularly affected our Rail business, which is currently subject to a wide-ranging review, as previously announced," it said.

In the UK & Ireland, sales were up 8%, with "sustained strong" LFL sales. SSP said it was pleased with its performance in Air and in its M&S estate across both Air and Rail.

In APAC and EEME, sales grew 17%, with the strengthened LFL sales growth quarter-on-quarter benefitting from a more normalised air capacity in India.

Chief executive 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."

For FY26, SSP continues to expect to deliver earnings per share towards the upper end of a range of 12.9p to 13.9p.

SSP said in a separate announcement that Carolyn Bradley has been appointed interim chair. Her appointment took effect at the conclusion of the annual meeting earlier on Friday, when Mike Clasper stepped down.

SSP said the recruitment process for a permanent chair is progressing well.