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Yes, a strong update IMO - particularly good to see the Americas returning to growth

Https://uk.finance.yahoo.com/news/middle-east-effect-ssp-airport-151100829.html

Good piece this on the resilience of SSP Group demand

I’m taking a gamble on the market having got this wrong. I think that the advance of AI makes GBG products even more essential. And I think (and hope) their expertise is not easily replicated. This is well worth a listen and obviously DYOR etc

https://www.biometricupdate.com/202602/wrap-ai-systems-in-identity-based-continuous-trust-to-scale-safely-gbgs-venkatesh

HttpS://www.espo.org/vehicle-charging-infrastructure-vci3-636-25.html

I see from LinkedIn, that E energy has been appointed to another government procurement framework

More good news

Hi Dartron - I think they have actually bought back 15 million shares since the beginning of the share re-purchase program - 252m down to 237m ; and I think given that they have re-purchased 1.5 million odd shares using the most recent authorised £10 million, that means there should be another 2 1/2 million shares to purchase? That said, I agree with your view that the shorts point to some caution being justified when buying this share, even at what appears to be this lowly price. DYOR et cetera.

Please grow up and stop spoiling this message board for the majority of sensible users.

What’s your valuation model? BoA acknowledge your concerns in their most recent buy rec but still see scope for £700 million in buybacks in the next few years as capex reverts to more normalised levels and FCF increasss. What’s your critique of this? Thanks in advance

From investing dot com

BofA Securities initiated coverage on SSP Group Plc. (LON:SSPG) (OTC:SSPPF) with a Buy rating and a price target of GBP2.18 on Friday.

The food and beverage concession operator, which runs outlets in airports and railway stations, is expected to deliver a 4.6% revenue compound annual growth rate (CAGR) through 2030, according to BofA Securities.

The firm projects this revenue growth will translate to a more substantial 24% CAGR in free cash flow, supporting approximately £700 million in share buybacks.

BofA Securities forecasts SSP Group’s return on invested capital (ROIC) will reach 15% in 2027 and continue rising as capital expenditures normalize, allowing the company to shift focus toward shareholder returns.

The firm’s 2028 earnings per share (EPS) estimate for SSP Group stands 16% above consensus, reflecting its positive outlook on the company’s financial trajectory

Of course the odd thing here is that the current share price of travel food services is worth 95 pence per share for SSPG but provides only 15% of the earnings. So if my maths is right 85% of the earnings (which would be 11.475 pence if fy26 earnings are 13.5p as forecast) is referable to 42 pence of the share price. So the non-India business trades on a forward multiple of 3.66. No wonder private equity might see this as an opportunity! And no wonder we long suffering shareholders are frustrated! DYOR etc

I wonder if (when?) it goes through 134.4 the previous all time closing low, it will hit 115 - which would be a 2025 fy p/e of 10. DYOR etc

Not sure what there is to congratulate the chairman about - he leaves with the share price close to an all time low and set to fall further - been a TERRIBLE investment (not that the executives ’ pay would lead you to believe that) DYOR etc

Even a takeover with a 35% premium and I’d still be taking a loss in this. Been a disaster for almost anyone holding right now. And to think they were praising the outgoing chair of the board!

Yep - they must be pretty keen

Please stop. Your dispute with Savage is spoiling the board for those of us who are interested in the company’s prospects.

This thread explains your investment strategy Savage - to lose so much money that you become one of the economically vulnerable public sector workers you champion! At least whatever Reeves does you don’t need to worry about CGT or higher rate tax… 😂😂

I agree Dave. Wouldn’t take much market jitters to see this at 120 (which would still be a PE of over 10 x September 2025 earnings and 9 x 2026 earnings if they achieve them). Given that nobody seems to like this share could go lower DYOR etc

Looks as if we will finish down again.

I wonder if we will hit the all time low of 134 recorded earlier this year? It looks like we night

Down 10% in 5 trading days whilst the broader market has need static over the same time frame. Makes you winder where this will go if the market tanks . I still hold on the hoe of happier times ahead . But it really has become a long-term hold.

I am also hoping we do not get a takeover. I would hope sentiment changes and we get a steady rise rather than a takeover at a price 35% north of where we are now which would still leave me sitting on a big loss. This has even a pretty terrible investment for me!