Davy Morning Equity Briefing

Jun 18, 2026

XPS Group

FY26: strong results with modest beats on earnings

XPS delivered a strong FY26 performance, with double-digit revenue growth, improved operating efficiency and earnings ahead of expectations, supporting dividend growth. The balance sheet remains robust with low leverage, providing flexibility for targeted M&A to support expansion. The outlook is positive, underpinned by sustained demand from the Pension Schemes Bill and continued growth in the insurance consulting business.

SSP Group plc

Planes, trains and margin gains: initiating on SSP

SSP is a leading food and beverage concessions business, operating restaurants in airports and other travel locations through a mix of in-house and franchised brands. It has a presence in 38 countries and is now primarily focused on the airport sector.