Indian IPO seen at top of range IPO price implies 43% of group market cap Fast-growing Indian aviation market Upper Crust operator SSP Group (SSPG) skipped 9% higher to top the mid-cap gainers after revealing a higher-than-expected IPO (initial public offering) price range for its Indian subsidiary TFS. The gain takes the shares into positive territory for the year to date and up 29% over the...

Just over five years ago the stock market began to react in earnest to news of the Covid pandemic.The sell-off was short and sharp, with a modest recovery from the lows in the spring followed by sharper gains in November 2020 after AstraZeneca (AZN) made a vaccine breakthrough.However, a large number of UK stocks are still trading below the levels they were at by the close of trading on 21...

First quarter revenue up 14%On track to meet full year targetsIndian IPO expected in the SpringSSP Group (SSPG) was one of the best mid-cap performers, gaining over 4% after the operator of restaurants and bars in travel locations said positive trading momentum has continued into the remainder of its first quarter to 31 December.The shares have struggled over the last year, underperforming the...

European stocks were higher on Tuesday afternoon, with New York stocks set for a quieter start after a tumultuous Monday trade which saw tech stocks dive.The FTSE 100 index added 51.82 points, 0.6%, at 8,555.53. The FTSE 250 was up 190.59 points, 0.9%, at 20,560.09, and the AIM All-Share rose 3.37 points, 0.5%, at 714.76.The Cboe UK 100 was 0.6% higher at 857.38, the Cboe UK 250 rose 1.0% at...

European equities traded higher on Wednesday morning, as stocks in London shrugged off a hotter-than-forecast UK inflation reading for now.Sage shone on the FTSE 100, while Severn Trent also impressed.The FTSE 100 index climbed 23.61 points, 0.3%, at 8,122.63. The FTSE 250 edged up 22.23 points, 0.1%, at 20,449.85, and the AIM All-Share was up 2.56 points, 0.4%, at 726.79.The Cboe UK 100 was...

Strong fourth quarter revenue growth of circa 15%Full year operating profit expected circa £210-220 millionLike-for-like sales of 9% in UK & Ireland Shares in SSP (SSPG) were marginally higher at 157p in morning trading as the food travel expert reported 'good underlying trading momentum' for the fourth quarter.The FTSE 250 company said like-for-like sales growth in UK & Ireland was 9% for...

Markets in Europe showed signs of recovery on Wednesday at around midday, with investors pleased that Federal Reserve Chair Jerome Powell kept hopes of a rate cut for this year alive.Speaking in Congress, Powell told lawmakers on the Senate Banking Committee that the most recent readings 'have shown some modest further progress' since the first quarter of the year.Investors are now looking...

Positive momentum continued in Q3Full year outlook reaffirmed'Well-positioned' for summer periodShares in SSP (SSPG) topped the FTSE 250 leader board on Wednesday (10 Jul), surging 13% higher to 176.5p after the food travel expert served up news of strong third quarter sales and reiterated its full year earnings guidance.The owner of brands including Upper Crust and Le Grand Comptoir also...

The end of the tax year is coming down the track fast and that means there are only weeks remaining to make full use of your £20,000 annual ISA allowance.Even if you are some way off this maximum limit or haven?t invested through an ISA at all in 2023/24, the rapidly approaching deadline is a good spur to look at the possibility of making money from the financial markets.Two weeks ago we ran...

Shares in hundreds of UK and US-listed companies have not fully recovered since the Covid-19 pandemic triggered a global stock market crash in February 2020, even though most major market indices are now trading above that level.According to SharePad data, 196 stocks in the FTSE 350 and 149 stocks in the S&P 500 are still trading below the day before markets crashed four years ago (21 February...

ARE is a privately-owned firmRegional sales of roughly £100 millionSSP shares down 14% over one yearShares in SSP (SSPG) were up nearly 2% to 226p as the travel food outlet operator said it had bought Australia?s Airport Retail Enterprises (ARE) for an undisclosed sum.ARE was founded in 1971 and is privately owned with 62 outlets consisting mainly of bars, casual dining restaurants and cafes...

FY23 guidance downgradedCost-of-living pressures impact eating out market?Robust? growth targeted in 2024Shares in Tortilla Mexican Grill (MEX:AIM) tumbled 8% to an all-time low of 50.5p after the UK?s largest fast-casual Mexican restaurant group served up a profit warning following a sour end to 2023, with subdued demand across the eating out market hindering growth in the fourth quarter.The...

SSP (SSPG) 203.7pLoss to date: 23.4%We initially recommended shares in travel retail firm SSP (SSPG) back in May as a way to play the rebound in travel both in the UK and around the world as businesses and consumers returned to their pre-pandemic routines.We argued that, at half their price from three years ago, the shares looked good value with plenty of recovery potential.WHAT'S HAPPENED...

One of the most notable trends of the last year has been the rebound in travel, both in the UK and across the globe, as workers have gone back to their offices and holidaymakers have gone on what the media likes to refer to as 'revenge travel', making up for trips which were put off due to the pandemic.Yet strangely, shares in food travel expert SSP (SSPG) are still only half their value at...

- Like-for-like sales 16.4% above pre-Covid levels- Food and energy costs eat into margins- Tacos-to-burritos seller reports positive current tradingTortilla Mexican Grill (MEX:AIM), the UK's largest fast-casual Mexican restaurant group, served up record sales for the year ended 1 January 2023 with a boost from a record year of 18 site openings and below-inflation price increases to mitigate...

- Return to full year profit- Dividends could return in 2023- Healthy pipeline of new contractsTravel food and beverage operator SSP (SSPG) pleased investors with a decent set of results for the 12 months to 30 September 2022.The company swung back into profit and saw a big increase in revenue as travel returned to some kind of normality in the wake of the pandemic. It was rewarded with a 4.3%...

- Full year guidance increased in September- Recovery in travel expected to continue into 2023- Resilient business gives flexibility to manage inflationWhen travel food and beverage operator SSP (SSPG) reports results for the year to 30 September on 6 December, investors will be keen to see if the strong recovery in travel seen in 2022 has continued into the new trading year and what impact...

- Profits hit by surging meat and energy costs- Like-for-like sales have slowed over the summer- Industry headwinds to have 'material' impact on second half earningsShares in Tortilla Mexican Grill (MEX:AIM) slumped 27.4% to 106p after the UK's largest fast-casual Mexican restaurant group served up mixed first half results with surging meat prices eating into margins, news that overshadowed...

- Dining group delivers strong like-for-like growth- Warns cost inflation has worsened- Chilango deal strengthens position in fast-casual Mexican food marketFast-casual Mexican restaurant group Tortilla Mexican Grill (MEX:AIM) served up tasty first half like-for-like sales growth and insisted its store roll-out programme remains on track, welcome news that helped the shares trade 2.5% higher...

- Trust outperforms benchmark on total return basis- Stock selection and valuation key to success- Larger than normal discount to NAV'All-weather' global equity vehicle Brunner Investment Trust (BUT) put in a respectable half-year performance, beating its benchmark in terms of NAV (net asset value) total return.As of the end of May the NAV per share with debt at fair value was £11.49, a drop...