SpaceandPeople PLC Trading Update (7877E)
May 11 2017 - 2:00AM
UK Regulatory
TIDMSAL
RNS Number : 7877E
SpaceandPeople PLC
11 May 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THE
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
SpaceandPeople plc
("SpaceandPeople" or the "Group")
Trading Update
SpaceandPeople, (AIM: SAL) the retail, promotional and brand
experience specialist, is pleased to announce a trading update for
the first four months of 2017.
Revenue and profit before tax for the first four months of 2017
were ahead of management expectations as a result of strong sales
in the Group's UK promotions division in particular. Although
revenue across the business remains weighted towards the second
half of the year, the Board is confident that the strong start to
2017 will be maintained throughout the year.
In addition to this improved revenue generation, the Group has
successfully renegotiated the terms of the German retail division's
contract with ECE. The resulting reduction in rental costs in 2017
means that this contract will now trade more profitably than had
been anticipated previously.
As a result of the increased revenues and reduced costs, the
Board now anticipates profit before taxation for the financial year
ending 31 December 2017 will be approximately GBP1.1 million and
Basic EPS will be approximately 4.5 pence.
Cash generation in the business has been strong during the year
to date and this is also expected to continue throughout the
remainder of the year. Management expects net cash for the year
ending 31 December 2017 to be approximately GBP1.25million.
Matthew Bending, Chief Executive Officer, commented
"I am pleased to be able to report that 2017 has started
strongly. The combination of better than forecast revenues and
reduced costs along with the positive impact of the restructuring
carried out in 2016 has meant that profitability so far this year
has been ahead of expectations and I look forward to this
continuing throughout the rest of 2017".
For further information, contact:
SpaceandPeople Plc 0845 241 8215
Matthew Bending, Gregor
Dunlay
Cantor Fitzgerald Europe 020 7894 7000
David Foreman, Will Goode
(Corporate Finance)
Alex Pollen / David
Banks (Sales)
About SpaceandPeople plc:
SpaceandPeople facilitates and manages promotional space for
marketing campaigns and retailing in shopping centres, railway
stations, retail parks, airports and other high footfall locations.
SpaceandPeople is at the forefront of developing the concept of
space as an advertising and promotional medium. It offers consumer
brands the opportunity to promote their products through direct
engagement with consumers through a mix of experiential marketing
events and complementary above the line advertising and multimedia
campaigns. SpaceandPeople offers a comprehensive service covering
brokerage, consultancy and venue centric media buying.
SpaceandPeople is independently funded and its shares are admitted
to trading on AIM. The Company operates in the UK and Germany and
also in India.
www.spaceandpeople.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTOKKDBABKDOPD
(END) Dow Jones Newswires
May 11, 2017 02:00 ET (06:00 GMT)
Spaceandpeople (LSE:SAL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Spaceandpeople (LSE:SAL)
Historical Stock Chart
From Apr 2023 to Apr 2024