Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSSP Group Share News (SSPG)

Share Price Information for SSP Group (SSPG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 168.10
Bid: 168.00
Ask: 168.30
Change: -1.40 (-0.83%)
Spread: 0.30 (0.179%)
Open: 168.30
High: 171.30
Low: 168.00
Prev. Close: 169.50
SSPG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sunday share tips: The Auction Group, SSP Group

Sun, 12th Jun 2022 17:47

(Sharecast News) - The Financial Mail on Sunday's Midas column tipped shares of Auction Technology Group to readers, saying they offered "clear, long-term potential".

After floating at 600.0p in February of 2021, they subsequently ran up to over 1,600.0p before drifting back down towards 943.0p.

The company, which Midas said was an "undisputed leader" in online auctions, traces its roots back to the start of the 1970s and its range of auctions span everything from art, antiques to collectables through to industrial machinery and food processing kit.

It sells 30m items annually valued at over £2bn through between 60-100 auctions per week, including in the US.

ATG also helps thousands of auction houses to find more bidders and buyers a wider range of goods.

Midas conceded there were worries that a recession might negatively impact on business but said that there were "strong grounds for optimism" nonetheless.

"Over half ATG's revenues come from industrial goods and sales tend to rise when times are hard and businesses close down or offload goods to generate cash," it explained.

Furthermore, retailers including Marks&Spencer used it to sell excess stock and most of ATG's sales were for less than the £5,000, driven by the what some termed the 4D's - death, divorce, downsizing and debt.

Brokers' estimates were for a 65% jump in full-year sales to reach £116m and a 80% leap in profits to £40m with more growth anticipated for 2023.

"Auction Technology Group is a fast-growing, well managed business at the forefront of its field. The shares, at £9.43, are a buy."

The Sunday Times's Lucy Tobin recommended shares of SSP Group citing building momentum in the recovery of the business and its well-regarded boss.

The company, which runs cafés at airports and stations across 35 countries from Finland to China returned to operating during the first half of its financial year, despite only 72% of its estate having reopened.

And with pent-up demand for summer holidays right ahead and the return to dining "al desko", sales hit 83% of their 2019 levels over the six weeks since the end of the half.

That performance also appeared to have been enough for chief executive officer, Patrick Coveney to tuck in.

"Watching long-delayed travellers hurl money at SSP-operated Burger King and Starbucks at Luton last week, I could see why new chief executive Patrick Coveney has spent £1.6 million on 630,000 shares in SSP," Tobin said.

She also noted the 11% crash in Greencore shares, Coveney's former employer, upon news of his move to SSP.

Furthermore, the company expected to return to pre-Covid sales levels by 2024 and broker Liberum believed there was margin for SSP to reinstate its dividend even as it invested as much as £475m into its expansion starting from as early as 2023.

"SSP is worthy of some investor appetite: buy."

More News
4 Feb 2022 09:10

TOP NEWS: SSP reports "encouraging" sales as commuter travel returns

TOP NEWS: SSP reports "encouraging" sales as commuter travel returns

Read more
4 Feb 2022 08:34

LONDON MARKET OPEN: Amazon lifts sentiment; oil majors top FTSE 100

LONDON MARKET OPEN: Amazon lifts sentiment; oil majors top FTSE 100

Read more
4 Feb 2022 07:43

LONDON MARKET PRE-OPEN: SSP and Shaftesbury reveal Omicron hits

LONDON MARKET PRE-OPEN: SSP and Shaftesbury reveal Omicron hits

Read more
4 Feb 2022 07:03

SSP confident recovery on track despite Omicron hit in January

(Sharecast News) - Travel food outlet operator SSP Group said trading in January softened due to the Covid Omicron variant but was confident its recovery remained on track.

Read more
31 Jan 2022 09:45

LONDON BROKER RATINGS: BofA cuts Barclays; Goldman lifts Fevertree

LONDON BROKER RATINGS: BofA cuts Barclays; Goldman lifts Fevertree

Read more
22 Dec 2021 17:03

LONDON MARKET CLOSE: Omicron hope lifts FTSE despite UK virus surge

LONDON MARKET CLOSE: Omicron hope lifts FTSE despite UK virus surge

Read more
9 Dec 2021 09:27

LONDON BROKER RATINGS: Morgan Stanley upgrades Rio Tinto and Polymetal

LONDON BROKER RATINGS: Morgan Stanley upgrades Rio Tinto and Polymetal

Read more
8 Dec 2021 17:08

LONDON MARKET CLOSE: Pound under pressure as PM hints at restrictions

LONDON MARKET CLOSE: Pound under pressure as PM hints at restrictions

Read more
8 Dec 2021 15:42

New hit to travel from Omicron increases challenge for new SSP CEO

New hit to travel from Omicron increases challenge for new SSP CEO

Read more
8 Dec 2021 10:26

TOP NEWS: SSP Group narrows annual loss despite continued revenue hit

TOP NEWS: SSP Group narrows annual loss despite continued revenue hit

Read more
8 Dec 2021 08:52

LONDON MARKET OPEN: Housebuilders lifted as Berkeley raises guidance

LONDON MARKET OPEN: Housebuilders lifted as Berkeley raises guidance

Read more
8 Dec 2021 07:45

LONDON MARKET PRE-OPEN: Berkeley raises guidance after upbeat half

LONDON MARKET PRE-OPEN: Berkeley raises guidance after upbeat half

Read more
8 Dec 2021 07:29

SSP losses widen amid pandemic hit

(Sharecast News) - Upper Crust and Ritazza owner SSP reported a widening of its full-year losses on Wednesday as it took a hit from Covid-related restrictions.

Read more
3 Dec 2021 15:07

Shore Capital expects encourage results from SSP but Omicron is worry

Shore Capital expects encourage results from SSP but Omicron is worry

Read more
1 Dec 2021 16:08

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.