SSP Group plc (LSE:SSPG) shares inched higher then dipped after the airport and railway station food concession operator reported slower sales in the past quarter.
Total sales for the Upper Crust, Grand Comptoir and Camden Food Co owner in the fourth quarter of its year to September slowed to 3%, reflecting market volumes and a 1% currency impact.
Like-for-like sales were up 2% and net gains at 2%.
The company said it expects full-year profits to be at the bottom of the guidance range, with earnings per share expected to be circa 11.5p, around the middle of guidance.
SSP also launched a £100 million share buyback, which it said was consistent with its capital allocation strategy and "reflecting our healthy balance sheet position and highlighting the board's confidence in our prospects into FY26".
CEO Patrick Coveney said: "We have delivered a resilient Q4 performance against an unsettled macro-economic and softer demand environment in some of our key travel markets."
Analysts at Peel Hunt cut their PBT forecast by £10 million and noted that, despite slowing global air passenger growth, profit guidance for the coming year was held on a constant currency basis, supported by cost reductions.
The shares were down 0.7% at 165.4p by mid-morning on Thursday.