Trading Update

RNS Number : 6338B

SpaceandPeople PLC

03 February 2020

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

SpaceandPeople plc

("SpaceandPeople" or the "Group")

Pre-Close Trading Update and Contract Awards

SpaceandPeople, (AIM:SAL) the retail, promotional and brand experience specialist, today announces a pre-close trading update ahead of its preliminary results for the year ended 31 December 2019.

Trading during the final quarter of 2019 was stronger than anticipated in the promotions divisions, however, was subdued in the retail divisions. As a result, overall revenue at £7.7m for the year was lower than expected, but due to lower direct costs, gross profit and profit before taxation were broadly in line with market expectations.

The year-end cash position was circa £1.2 m (2018: £0.8m). Bank borrowing at the year-end was £0.6m (2018: nil).

Following the resumption of a dividend payment in the previous year, the Board intends to increase the dividend payment this year and will propose a final dividend of 0.75p (2018: 0.50p) per share at the AGM for shareholder approval.

It is anticipated that the Group's preliminary results will be announced on 25 March 2019.

Contract Awards

The Group is also pleased to announce that a multi-year agreement has been signed with Abellio to provide commercialisation activity in the Greater Anglia and West Midlands rail regions. This is the first time that SpaceandPeople has worked with Abellio and we look forward to growing this relationship.

Also, the Network Rail agreement that was due to expire in September 2020 has been extended by a further year and we look forward to continuing to expand on this very successful relationship.

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For further information, please contact:

SpaceandPeople plc	0845 241 8215
Matthew Bending Gregor Dunlay
Cantor Fitzgerald Europe	020 7894 7000
David Foreman Will Goode Adam Dawes

 

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