The provider of catering and retail facilities at many global transport hubs issued full year numbers this morning. The report noted a 14% increase in revenues, margin improvement of 60 basis points and operating profits up by 26%. Whilst the bulk of the reporting metrics here were positive, management did identify a rather more sluggish performance in continental Europe with rail strikes and a weak motorway service station sales in Germany both being highlighted. Shareholders are being rewarded with a 40% uptick in dividends and the SSP share price was up 12% in early trade, leading the FTSE-250.
The online travel agency On The Beach also issued full year numbers this morning, with the company noting a third consecutive record year of sales, strong forward bookings and announcing a £25m share buyback program, too. Total transaction value was up 15% to £1.2bn although management are eyeing a mid-term target of more than double that, although with a broader product set – they’re expanding into a city breaks program and starting to sell in the Republic of Ireland as well – the market clearly has cause for optimism. The On The Beach share price was up almost 15% by 9am, trading at levels not seen in two and a half years.
The brewer turned pureplay pub operator Marston’s completes a trifecta of full year reports this morning, with management noting growth outpacing the wider market, confidence that cost impacts of changes in UK employment legislation are manageable and noting that FY25 has started on a positive note with sales for the first six weeks up by 3.9%. With Christmas bookings also tracking ahead of the comparative, the positive market reaction appears to be well-warranted. Marston’s share price is up more than 6% in the first hour of trade.
Headlines we expect tomorrow
IXICO Final Results
This time last year Revenue £6.7m, Gross profit £3.3m, Operating loss £1.4m
Tritax Eurobox Final Results
This time last year Rental income €68.1m, Portfolio value €1562m, Vacancy rate 5.5%
