SSP Group (SSPG): Multi-year strategic roadmap

This situation live

£1,366m · 179.3p · +23% since the first step

19 May 2026 · 'Focus 26' progressing; Middle East risk · +27% until the next step 'Focus 26' plan to accelerate shareholder value delivery progressing well

Turnaround plan with targets

Multi-year strategic roadmap

New £50m buyback started after £100m completed

DEC8 Next: FY26 full year results in 45 days

Every step · 7

10 Nov 2025 Board finalising roadmap – As a Board, we are finalising SSP's multi-year strategic and operational roadmap to build on its strong foundations and accelerate the delivery of shareholder value. ↗
4 Dec 2025 Focus 26 plan published with FY26 targets – We have defined a focused operational plan to strengthen performance, building on the priorities set out in December 2024 ↗
23 Jan 2026 On track; Q1 momentum positive – We are making good progress in driving improved performance through our 'Focus 26' operational plan and expect to provide a full update on this at our H1 Results. ↗
19 May 2026 'Focus 26' progressing; Middle East risk – 'Focus 26' plan to accelerate shareholder value delivery progressing well ↗
28 Jul 2026 Q3: guidance held, buyback 76% done – We are making good progress with our 'Focus 26' operational plans which position us well to strengthen profitability, cashflow and returns on investment. ↗
9 Oct 2026 FY26 EPS on track; FCF below plan; new buyback – Through our ‘Focus26’ plan, we have driven sustainable improvements in operational performance across the Group. ↗
9 Oct 2026 New £50m buyback started after £100m completed – This reflects the significant progress made embedding stronger and sustainable cash generation across the business and is consistent with our capital... ↗

What is happening

SSP Group: Multi-year strategic roadmap – New £50m buyback started after £100m completed. ['New £50m buyback started after £100m completed']

In short: The 'Focus26' plan targets higher profit, cash and returns. At Q4 (9 Oct 2026) FY26 EPS is c.14.0p, within the 13.6-14.8p range, though free cash flow of c.£70m is below the prior >£100m view. The £100m buyback is complete; a new buyback of up to £50m was announced on 9 Oct 2026, starting 12 Oct 2026.
Announced: 10 Nov 2025 · Board finalising roadmap
Latest: 9 Oct 2026 · New £50m buyback started after £100m completed
Next milestone: FY26 full year results on 8 December 2026
EPS: c.14.0p, up c.18% YoY, within guided range of 13.6-14.8p
Operating profit: c.£230m, slightly lower than planned
Buyback size: Up to £50m maximum aggregate consideration
Timing: Starts 12 October 2026; ends no later than 12 October 2027
Broker: Panmure Liberum Limited, acting as riskless principal
Purpose: Sole purpose is to reduce issued share capital; shares acquired will be cancelled
Authority: 2026 AGM authority to 2027 AGM or 23 April 2027; continuation needs 2027 AGM approval

FY26 full year results (8 Dec 2026).

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

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