SSP’s Shelby & Co at Birmingham Airport, a nod to the popular TV series Peaky Blinders.

The share price of travel food and beverage (F&B) operator SSP closed today, up +5.1%, following half-year results (ending March) showing group revenue rose +6% (like-for-like, +5%) to reach $1.76bn/ $2.35bn*. Operating profit surging by +18% to £50m/ $67m.

SSP, which runs restaurants, bars, cafes and other F&B outlets in travel locations across 38 countries, noted that the UK and Ireland division was a “standout performer” with LFL sales growth of +8%, driven by strong airport trading and refurbished M&S stores.

For the first six weeks of the second half, the UK’s growth has stepped up to +11%, while Asia-Pacific, Eastern Europe and the Middle East (APAC & EEME) contracted by -4%, due to the impact of the US-Israel conflict with Iran.

However, the quarterly trend by region since Q3 2025 shows that APAC & EEME had been delivering the best growth, followed by the UK, which has tracked upwards. The weakest regions have been Continental Europe and North America, the latter returning to growth from Q1 2026 (see chart below).

The Asia/Middle East region and the UK have been the strongest growth drivers since Q3 2025.

Despite ongoing geopolitical uncertainty, SSP said its diversified international portfolio and operational discipline had helped its performance. Patrick Coveney, Group CEO, said in a statement: “This has been a period of resilience and progress for SSP. We’ve delivered good trading and profit improvements against a challenging backdrop for the global travel sector.”

He said that while the external environment is uncertain due to events in the Middle East, the company’s strategy and priorities are unchanged. “While we recognise there is more to do, through our Focus26 plan we continue to strengthen operational performance across the group, with clear initiatives underway to drive sustainable improvements in profitability, cash generation and returns on capital,” said Coveney.

SSP rail business review: next steps

Having concluded a wide-ranging review of its rail business in Continental Europe, SSP is on a path to creating a smaller, more profitable rail operation in the region with higher returns. Coveney said: “We are starting to implement our plans. I’m confident these will deliver a smaller, more profitable and more cash generative business in Continental Europe over time.” The business is on track for an operating margin increase from 2.2% to >3.0% this financial year.

The region remains important to SSP, as it has the largest share of revenue at 33%, followed by the UK and Ireland at 26%, North America with 23%, and the rest in APAC & EEME. On SSP’s performance overall, the CEO said: “Given overall good trading at the start of the second half, we remain confident in our prospects for the remainder of the year,” said Coveney.

Today, SSP also announced the appointment of Candace McGraw as an independent non-executive from June 1, 2026. McGraw, an experienced international leader with more than 30 years’ experience across the aviation sector, will join the audit and nomination committees. She was the CEO at Cincinnati/Northern Kentucky International Airport for 15 years.

Commenting on the appointment, Carolyn Bradley, Interim Chair of SSP, said: “Candace brings extensive experience from global aviation alongside first-class operational, strategic, and governance expertise. Her insights into the North American market will be invaluable as we deliver our Focus 26 agenda.”

[*FX conversions at today’s rate.]

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