Member Info for Webba1

I unfiltered Avocet123 and wished i'd not. "reflected in the books...share price" it is and on that basis a little like EZJ its distressed by the world events. Once these are put to bed, the SP will reflect the sum of the parts. 700m for TFS share- TFS generated about 15% of SSP's EBITDA but is worth 50% of its Market cap.... my maths suggests that it's not accurately reflected in the SP.

Did my research.... value of the parts is fantastic. Just needs a sustained period of sensible world trade, fuel/ war gone to kick start this- 1bn profit target suddenly makes the valuation look ropey. The next big step is what do the board actually do to gain some shareholder support - ultimately shareholders want their cake now not in time and having a longer term profit growth and investment profile vs giving more back in buy backs, dividends, specials is what's needed to kick start this.

Those quoting pre Covid share prices at 8/12/16 need to factor in all the extra shares that were listed to capitalise the business during covid. Those SP's will take a lot longer to reach as there are a ton more shares in circulation and there has yet to be any share buy back or any other initiative. Debt free and relatively cash rich which makes us a snipers dream!

WHS have a very narrow business model now which they traded on volumes with the High st business attached and supplier rebate/ income from having so many distribution points. They made very little from the core business- this is now somewhat scuppered having closed so many distribution points. The travel model is fine as long as the air vol is there and there are not competitors- Relay now in the UK market is a massive red flag for WHS. Ultimately they have a very small market to go after, hence adding on pharmacy and electronics- neither of those are great margins as its non core for them. The other add ons playing with F&B franchises is a small opportunity that they don't have experience in and out side of the UK the WHS brand simply doesnt have the same pull for clients or consumers. I see this as a slow painful one- unless SSP actually invest some of the cash they have to buy the business!

TFS announced 26% LFL growth last week- SSP own 51% and need to sell a chunk to enable the free float! Value to come

Looking at the SSP results- US, Europe and UK not impacted by disruption in the region, only the APAC business suffering passenger wise. Minimal impact on EZJ passenger volumes, just means redeploying fleet and a higher fuel cost, hedging considered. I expect that the profit will be worse than last year but at some point this share will bounce.

So looks like my view of the first half was closer than the poster who holds no shares..... some positive growth but also some worrying signs - UK great LFL against the M&S Cyber attack where there was literally no stock..... that will continue in LFL for a few months at least. The drop year on year in UK profit more concerning as slack is finally picked up by the US driving some value. The key here is the value of the c.13% of TFS shares the board needs to sell off to get that free float to 25% + - what value that is and when they do it/ what they do with the proceeds will determine the shares next step.

Lots of green on my page now ive filtered it

Returns pre covid were stellar, the time post has been recovery. it's now set for SP recovery and a great entry point. So outline your explanation or move on as there are lots of shares to punt on. pretty sure there will be a dividend again so my view is closer to 2.40 than 1.40 but i'm invested, you're not

Yes but as we keep hearing - there is no depth or thoughts on your view / opinion so like an empty vessel you just echo the same tosh.

here are the simple facts

1. EPS will be ahead and +ve for the first half - not achieved since pre covid.

2. Sales growth will be ahead of expectation LFL and net gains

3. profit recovery in Europe and centrally will be underway

4. capital spend is reigned in

5. TFS valuation has held up and the 50% stake that SSP have and have to sell down to create free float is worth about 50% of SSPs current MCAP - what do you think they will do with that money.... return to shareholders in buy back or special which i'd prefer.

6. activist investor driving to take private/ split or sell/ merge the business - either way the activist is about driving SP up.

Come on Avocet- let me know your rationale. i spent over a decade in a senior leadership role at SSP. you've spent a decade sat in your underpants in your bedroom posting on shares......

So what's the plan Parvus? i assume its sell off the TFS share, return cash to shareholders and or take the business private! 2.50 target.

So the price is depressed post the macro eco issues and war. The c.7% short interest needs to close at some point and if the Iran conflict is ended with these talks, then it will be a rush for them to close, they are already starting to get out slowly without panicking the others and being the one left holding the bag......

fundamentals remain strong here. just painful watching this take forever to realise

savage, on ssp board you're flagging a positive resumption of talks in ****stan that will drive this share well over 450 once the hostilities are done

'Down again' the market is reacting to Orange muppets latest insider trading. The fundamentals of leisure travel have'nt changed. Is your negative view meant to be some sort of warning for naive investors......

Huge short interest and it will be a case of who can get out quickest when prices start to rise!!! this is a short squeeze waiting to happen as the travel and war mess gets sorted

Boring.

What a random 'rationale' for being here. I hold EZJ and don't agree with the other fellas views there but at least he has some rationale for his position. Ps de ramping on a board. how is that going for you ? the phrase peeing into the wind springs to mind

Boring, move on. give some colour to your views or you end up sounding like a spurned ex or someone who can't actually string together a rational argument.

Shorts on fire .... Avocet knocked off for Christmas.....

Still have a short at 1% - lets see if they're still hanging around or is that the reason for the surge post director buys.