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Pin to quick picksSSP Group Share News (SSPG)

Share Price Information for SSP Group (SSPG)

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Share Price: 169.50
Bid: 110.50
Ask: 180.00
Change: 0.00 (0.00%)
Spread: 69.50 (62.896%)
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Prev. Close: 169.50
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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
16 May 2023 15:51

UK earnings, trading statements calendar - next 7 days

Wednesday 17 May 
Auction Technology Group PLCHalf Year Results
Aurrigo International PLCFull Year Results
Bank of Georgia Group PLCQ1 Results
British Land Co PLCFull Year Results
Coats Group PLCTrading Statement
Experian PLCFull Year Results
JD Sports Fashion PLCFull Year Results
Jersey Electricity PLCHalf Year Results
Keller Group PLCTrading Statement
Mitchells & Butlers PLCHalf Year Results
Ninety One PLC and LtdFull Year Results
Redx Pharma PLCHalf Year Results
Sage Group PLCHalf Year Results
Scottish Mortgage Investment Trust PLCFull Year Results
TP ICAP Group PLCQ1 Results
Watches of Switzerland Group PLCTrading Statement
Thursday 18 May 
Brighton Pier Group PLCFull Year Results
BT Group PLCFull Year Results
Burberry Group PLCFull Year Results
ConvaTec Group PLCTrading Statement
easyJet PLCHalf Year Results
Energean PLCTrading Statement
Future PLCHalf Year Results
Helios Towers PLCQ1 Results
International Distributions Services PLCFull Year Results
Investec PLC and LtdFull Year Results
National Grid PLCFull Year Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
Premier Miton Group PLCFull Year Results
TheWorks.co.uk PLCTrading Statement
Tritax EuroBox PLCHalf Year Results
Tyman PLCTrading Statement
Vesuvius PLCTrading Statement
Friday 19 May 
IQE PLCFull Year Results
Knights Group Holdings PLCTrading Statement
Smiths Group PLCQ3 Results
Titon Holdings PLCHalf Year Results
Tharisa PLCHalf Year Results
Monday 22 May 
Big Yellow Group PLCFull Year Results
Chrysalis Investments LtdTrading Statement
Henderson European Focus Trust PLCHalf Year Results
Kainos Group PLCFull Year Results
Pershing Square Holdings LtdQ1 Results
Ryanair Holdings PLCFull Year Results
Schroder Oriental Income Fund LtdHalf Year Results
Wincanton PLCFull Year Results
Tuesday 23 May 
Assura PLCFull Year Results
Avon Protection PLCHalf Year Results
Benchmark Holdings PLCHalf Year Results
Bytes Technology Group PLCFull Year Results
Caledonian Trust PLCFull Year Results
Calnex Solutions PLCFull Year Results
Cranswick PLCFull Year Results
Engage XR Holdings PLCFull Year Results
FD Technologies PLCFull Year Results
Forterra PLCFull Year Results
Harworth Group PLCTrading Statement
Helical PLCFull Year Results
Hilton Food Group PLCTrading Statement
Ixico PLCHalf Year Results
JPMorgan China Growth & Income PLCHalf Year Results
Kier Group PLCTrading Statement
Pebble Group PLCFull Year Results
Princess Private Equity Holding LtdQ1 Results
Residential Secure Income PLCHalf Year Results
RS Group PLCFull Year Results
Schroder AsiaPacific Fund PLCHalf Year Results
Seraphim Space Investment Trust PLCQ1 Results
SSP Group PLCHalf Year Results
Topps Tiles PLCHalf Year Results
Trellus Health PLCFull Year Results
Victorian Plumbing Group PLCHalf Year Results
Watkin Jones PLCHalf Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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4 May 2023 12:22

IN BRIEF: SSP buys Midfield Concession Enterprise to expand presence

SSP Group PLC - London-based travel food and beverage outlet operator - Buys Midfield Concession Enterprise Inc for an undisclosed sum to expand its presence in North America at airports. MCE operates a portfolio of brands, which is consistent with SSP's focus in North America on bringing local restaurants to the airport. Says through MCE, it adds 40 new units at seven airports. Expects the acquisition to contribute to an additional of USD100 million to revenue in its North America business. Expects completion in late summer.

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4 May 2023 07:50

SSP expands North America presence with MCE buy

(Sharecast News) - Travel outlet food operator SSP Group said it was expanding its North America operations through the acquisition of the concessions business of Midfield Concession Enterprise for an undisclosed sum.

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9 Mar 2023 10:49

JD Sports hires Currys Chair Ian Dyson as non-executive director

(Alliance News) - JD Sports Fashion PLC on Thursday named Currys PLC's Chair Ian Dyson as a new non-executive director.

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16 Feb 2023 09:02

SSP Group sees revenue rise on return of travel, expects to meet goals

(Alliance News) - SSP Group on Thursday said that it remains confident of meeting its annual guidance, after seeing strong momentum across the business continue from the end of last year.

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16 Feb 2023 07:48

SSP hails strong start to year, backs FY guidance

(Sharecast News) - Upper Crust owner SSP backed its full-year guidance on Thursday as it hailed a strong start to the year, with revenues ahead of pre-pandemic levels amid a further recovery in the travel industry.

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9 Feb 2023 15:46

UK shareholder meetings calendar - next 7 days

Friday 10 February 
Red Rock Resources PLCAGM
Victrex PLCAGM
Monday 13 February 
Cellular Goods PLCAGM
Tuesday 14 February 
Tui AGAGM
Wednesday 15 February 
Barkby Group PLCAGM
Blencowe Resources PLCAGM
Circle Property PLCEGM re capital reduction and shares capitalisation
GCP Infrastructure Investments LtdAGM
Helium One Global LtdAGM
Petro Matad LtdAGM
Thursday 16 February 
Belluscura PLCGM re share placing agreement
Benchmark Holdings PLCAGM
Devro PLCGM and court meeting to agree on a new cash acquisition
SSP Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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1 Feb 2023 13:09

RBC Capital initiates coverage of SSP at 'outperform'

(Sharecast News) - RBC Capital Markets initiated coverage of SSP on Wednesday at 'outperform' with a 300p price target.

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18 Jan 2023 09:47

LONDON BROKER RATINGS: Bank of America and Oddo BHF cut Whitbread

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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15 Dec 2022 09:25

LONDON BROKER RATINGS: Goldman Sachs likes Big Yellow, Great Portland

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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14 Dec 2022 09:37

LONDON BROKER RATINGS: JPMorgan lowers opinion on UK housebuilders

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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6 Dec 2022 12:29

LONDON MARKET MIDDAY: FTSE 100 down as Fed fears weigh on stocks

(Alliance News) - Stocks in London were lower at midday on Tuesday as investors continued to fret about the prospect of another hefty rate hike from the Federal Reserve following the release of a better-than-expected reading on the health of the US service sector.

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6 Dec 2022 09:18

LONDON MARKET OPEN: Lower open in Europe as US Fed hike fears return

(Alliance News) - European markets got off to a lacklustre start on Tuesday, as concern about bigger-than-expected interest rate hikes from the US Federal Reserve resurfaced.

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6 Dec 2022 09:09

SSP swings to profit, revenue multiplies amid travel demand recovery

(Alliance News) - SSP Group PLC on Tuesday said it swung to a profit and revenue multiplied due to a recovery in domestic and leisure travel in the aviation and rail sectors.

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6 Dec 2022 07:55

LONDON BRIEFING: Ashtead raises annual guidance after strong half

(Alliance News) - Stock prices in London were called to open lower on Tuesday, following a weak New York close, as some strong US data stoked interest rate hike fears.

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