Latest news with #SSPGroup
Yahoo
18-07-2025
- Business
- Yahoo
SSP Group opens new wine and food bar at Dublin Airport, Ireland
SSP Group has launched a new wine and food bar, named The Reserve, at Dublin Airport's Terminal 2. Positioned centrally within the terminal concourse, it offers a selection of wines and an all-day dining menu. The wine menu at The Reserve includes 16 varieties sourced globally, featuring a selection from Irish producers Château Puynard. The bar also offers a variety of cocktails, spirits, draught and bottled beers, including Guinness, and non-alcoholic beverages. Dublin Airport food and beverage head Aileen Dautry stated: 'The Reserve is another great addition to Terminal 2 and offers even more choice for passengers travelling this summer.' Food offerings at The Reserve include lighter bites and hot breakfast options such as scrambled eggs on sourdough with bacon, truffle and mushrooms, and the smoked salmon platter. The menu also features premium open sandwiches, salads, grazing plates that include charcuterie, cheese and seafood, and desserts. An Irish artisan cheese plate is available to complement the wine selection. The introduction of The Reserve is part of SSP's ongoing investment strategy at Dublin Airport, which has included upgrades to existing outlets such as The Garden Terrace and Upper Crust. SSP UK & Ireland brand and business development director Lauren Wood stated: 'A 50-cover fine-wine and dining bar, The Reserve complements our portfolio of bars and quick service restaurants at Dublin Airport perfectly, and I'm sure any visit there will live long in the memory for all the right reasons.' In May 2025, SSP Group launched operations in Bulgaria, opening a Starbucks and a Camden Food Co at Sofia International Airport's airside departures area in Terminal 2. "SSP Group opens new wine and food bar at Dublin Airport, Ireland" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
14-07-2025
- Business
- Forbes
Travel Food Retailer SSP Sees Debut Indian IPO Decline In Value
Travel Food Services Limited (TFS), an SSP Group JV, debuted on two Indian exchanges today. The share price of U.K.-listed global food and beverage (F&B) travel retailer SSP Group, has been flat today (at 3 p.m. BST), following the first day's trading of its Indian joint venture—Travel Food Services Limited (TFS)—on two Indian exchanges; the BSE (formerly the Bombay Stock Exchange) and the National Stock Exchange (NSE). The share price of the JV with India's K Hospitality Corp, a brand of the Kapur Family Trust, opened at 1,125 Indian Rupees ($13.08) and closed at 1,075 ($12.50), down 4.5% (source: NSE). It means the company's valuation (market capitalization) dropped by about $78 million to $1.7 billion at the closing bell. Despite being almost three times oversubscribed, TFS saw soft retail interest today, even with the claim of being 'the leading player' in the airport travel quick-service restaurant and lounge sectors in India. However, just five airports account for over 85% of TFS's revenue from these two sectors, pushing up the risk factor. While institutions might like the strategic positioning in India's burgeoning aviation market, retail investors are perhaps waiting to come in at a lower price. Until last summer, the company operated just under 400 outlets across 14 airports in India—mostly at its largest gateways—and three airports in Malaysia. In addition, a new lounge was opened in Hong Kong in July 2024. SSP prepares for next stage of Indian growth SSP first took an approximate one-third stake in TFS in March 2017 before raising it to 49% pre-pandemic, and at IPO, 50.01%. Varun Kapur, managing director and CEO of TFS, said that, since the JV was established, it had built up 'a significant position' in the fast-growing Indian travel market. Downwards: TFS's share price on opening day. Domestic air traffic last year soared to over 161 million passengers, up 6% according to India's Directorate General of Civil Aviation, which might have been reason enough in some quarters to make this a worthwhile investment. The first-day setback did not faze Kapur, who said: 'The IPO today sets us up for our next stage of growth… as we begin a new chapter for the company.' SSP, which runs restaurants, bars, and cafes in travel locations across 38 countries, utilizing a mix of international, national, and local brands, is committed to TFS for a while yet, and probably in the longer term, given the unrealized potential of the Indian market. India is key to SSP's profitability Patrick Coveney, CEO of SSP Group, said: 'We look forward to continuing to partner with K Hospitality to support TFS post-listing. We believe that the market potential in India, combined with TFS's economic model and market leadership, provides a compelling opportunity to deliver growth and returns for the group.' The group has made India one of four target markets, the others being Australia, the United Arab Emirates, and Saudi Arabia, as continental Europe has performed below expectations. SSP, which is opening the first Popeyes at British airports this summer, operates across six formats: sit-down and quick-service restaurants, bars, cafés, lounges, and food-led convenience stores. The company's geographical split would benefit from more Indian involvement. Based on the 2024 financial year, the Indian rupee made a 5% currency contribution to sales and a whopping 22% share of operating profit. This compares with the biggest sales contributor, the Euro at 29%, but only delivering 10% of operating profit. For more stories on SSP, follow this link.
Economic Times
14-07-2025
- Business
- Economic Times
Travel Food Services shares list at 2% premium over IPO price
Travel Food Services, a major player in airport QSRs and lounges, debuted on the BSE with a modest 2.38% premium. The IPO saw moderate investor interest, with strong QIB demand but muted retail participation. Despite solid financials and a first-mover advantage, valuation concerns and limited GMP suggest a measured market outlook for the listing, even with international backing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Travel Food Services , a leading player in airport-based quick service restaurants (QSRs) and lounges, listed at a premium of 2.38% on BSE on Monday. The stock debuted at Rs 1,126.20 on BSE and Rs 1,125 on NSE, compared to its issue price of Rs 1, IPO received a moderate response from investors, closing with 3.03x overall subscription. The QIB (Qualified Institutional Buyer) category saw the strongest demand at 8.10x, while retail participation remained muted at just 0.73x. The NII segment was subscribed 1.67x, reflecting cautious optimism among high-net-worth individuals. Travel Food Services , backed by the UK-based SSP Group, operates 397 QSR outlets and lounges across 14 airports in India and three in Malaysia, including hubs like Mumbai, Delhi, Bengaluru, and company boasts a diverse F&B brand portfolio of 117 partner and in-house brands, catering to the growing demand for food and travel services in high-footfall transit the company reported steady earnings growth in FY25, supported by strong EBITDA margins (40%) and ROE of 35.47%. However, the IPO's valuation at a P/E of 48.6x has drawn some concern, especially given its entirely secondary nature, with no fresh capital anchor investors committed nearly Rs 599 crore ahead of the issue, the lack of overwhelming retail traction and limited upside in GMP indicate a measured market outlook for the a first-mover advantage in India's niche airport F&B segment and strong international backing, the company is well-positioned for long-term growth, though near-term listing fireworks appear unlikely.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
14-07-2025
- Business
- Time of India
Travel Food Services shares tumble 5% from peak after listing on premium
The shares of Travel Food Services , which got listed on the exchanges earlier today, has fallen by 5% from its intraday high of Rs 1,128.90 on the BSE after listing at a gain of 2.6% over the issue price of Rs 1,110. From its issue price, the stock has fallen by 2.12%. Travel Food Services, a prominent operator of airport-based quick service restaurants (QSRs) and lounges, made its stock market debut on Monday with a 2.38% premium on the BSE. The shares opened at Rs 1,126.20 on the BSE and Rs 1,125 on the NSE, against the issue price of Rs 1,100. The IPO saw a moderate response from investors, closing with an overall subscription of 3.03 times. The Qualified Institutional Buyer (QIB) category recorded the highest demand at 8.10 times, while retail investor participation remained subdued at just 0.73 times. The Non-Institutional Investor (NII) segment was subscribed 1.67 times, indicating cautious interest from high-net-worth investors. Live Events Travel Food Services, backed by UK-based SSP Group, operates 397 quick service restaurant outlets and lounges across 14 airports in India and three airports in Malaysia, covering major hubs such as Mumbai, Delhi, Bengaluru, and Chennai. The company offers a diverse food and beverage portfolio comprising 117 partner and in-house brands, serving the rising demand for food and travel services at high-traffic transit locations. Financially, the company reported stable earnings growth in FY25, supported by robust EBITDA margins of 40% and a return on equity (ROE) of 35.47%. However, concerns have been raised over the IPO's valuation , priced at a P/E multiple of 48.6 times, particularly since the offer is entirely secondary with no fresh capital being raised. Also read: Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow account ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
14-07-2025
- Business
- Economic Times
Travel Food Services shares tumble 5% from peak after listing on premium
The shares of Travel Food Services, which got listed on the exchanges earlier today, has fallen by 5% from its intraday high of Rs 1,128.90 on the BSE after listing at a gain of 2.6% over the issue price of Rs 1,110. ADVERTISEMENT From its issue price, the stock has fallen by 2.12%. Travel Food Services, a prominent operator of airport-based quick service restaurants (QSRs) and lounges, made its stock market debut on Monday with a 2.38% premium on the BSE. The shares opened at Rs 1,126.20 on the BSE and Rs 1,125 on the NSE, against the issue price of Rs 1,100. The IPO saw a moderate response from investors, closing with an overall subscription of 3.03 times. The Qualified Institutional Buyer (QIB) category recorded the highest demand at 8.10 times, while retail investor participation remained subdued at just 0.73 times. The Non-Institutional Investor (NII) segment was subscribed 1.67 times, indicating cautious interest from high-net-worth investors. Travel Food Services, backed by UK-based SSP Group, operates 397 quick service restaurant outlets and lounges across 14 airports in India and three airports in Malaysia, covering major hubs such as Mumbai, Delhi, Bengaluru, and Chennai. ADVERTISEMENT The company offers a diverse food and beverage portfolio comprising 117 partner and in-house brands, serving the rising demand for food and travel services at high-traffic transit locations. Financially, the company reported stable earnings growth in FY25, supported by robust EBITDA margins of 40% and a return on equity (ROE) of 35.47%. However, concerns have been raised over the IPO's valuation, priced at a P/E multiple of 48.6 times, particularly since the offer is entirely secondary with no fresh capital being raised. ADVERTISEMENT Also read: Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow account (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
