**Summary**
SSP Group PLC, a global operator of food and beverage outlets in travel locations, released its Q1 2026 trading update on January 23, 2026, reporting encouraging early trading momentum. Key highlights include
1. **Strong Q1 Performance**Group like-for-like (LFL) sales grew by 5%, driven by robust performance across regions, particularly in the UK & Ireland (8% growth) and APAC & EEME (17% growth).
2. **Regional Breakdown**
North America: 4% sales growthprimarily from net gains.
Continental Europe: 1% growthdespite weak consumer sentiment.
UK & Ireland8% growth, with strong performance in Air and M&S estate.
APAC & EEME17% growth, benefiting from normalized air capacity in India and strong net gains.
3. **Full-Year Guidance Unchanged**SSP reaffirmed its FY26 guidance, including EPS of 12.9p-13.9p, free cash flow improvement to >£100m, and progress toward a 20% ROCE target.
4. **Operational Progress**The company is on track with its Focus 26 plan, aimed at improving profitability, cash flow, and returns on capital.
5. **Share Buyback**£24m of the £100m share buyback initiated in October 2025 has been completed.
6. **CEO Commentary**Patrick Coveney expressed confidence in SSPs prospects for FY26 and beyond, citing strong momentum and progress on strategic initiatives.
Overall, SSP Group demonstrated a positive start to FY26, with sustained growth and strategic advancements positioning the company for continued success.