A strong start was seen for SSP Group, the operator of franchise F&B outlets at transport hubs globally. Despite the conflict in the Middle East knocking growth for the region, this morning’s publication of half year results showed that elsewhere the company continues to perform well. Group sales are up 6.2%, operating margins have expanded and operating profits are also ticking higher, making for a resilient performance against an uncertain global backdrop. That news has evidently reassured markets and the SSP share price was up almost 7% in early trade.
The online investing platform IG Group issued a pre-AGM trading update this morning that noted a strong start to the year with Q1 revenues up 21% and new customer numbers some 12% higher. Full year guidance has been updated as a result, and that momentum is now expected to carry over into the medium term, too. The results of a strategic review aimed at unlocking shareholder value will be announced in the autumn and the IG Group share price was up around 7% on the back of this news.
Half year results from Diploma were also out today. The company provides advanced technologies for critical applications, and reported revenue growth of 15%, a 300bps improvement in margins plus strong success in its acquisition ambitions. Full year guidance has been upgraded again with organic revenue growth revised up to 12% from the previously stated 9%, whilst the interim dividend has also been nudged higher. The Diploma share price was up more than 5% shortly after the open.
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