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4d ago

SSP Group Delivers Strong H1 Growth While Delaying Indian IPO and Launching Cost-Cutting Plan

The travel-food operator reported a 20% rise in operating profit and maintained full-year guidance, but outlined strategic adjustments to address European challenges and market volatility.

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The announcement came alongside half-year results which showed operating profit rose 20 per cent to £45 million

Overview

  • SSP Group reported a 20% increase in operating profit to £45 million and a 9% rise in revenue to £1.7 billion for the first half of 2025.
  • The company maintained its full-year revenue guidance of £3.7–3.8 billion and operating profit of £230–260 million despite economic uncertainties.
  • A planned IPO for its Indian joint venture, Travel Food Services, has been postponed to the summer due to volatile stock market conditions.
  • SSP launched a six-month cost-cutting initiative aimed at reducing duplication, simplifying operations, and potentially cutting jobs.
  • Continental Europe underperformed with a slight revenue dip and a £3.1 million loss, prompting a focused turnaround plan for the region.