REG - SpaceandPeople PLC - Trading Update

SpaceandpeopleAnnouncement

11/07/2022 07:01

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RNS Number : 9079R  SpaceandPeople PLC  11 July 2022

11 July 2022

SpaceandPeople plc

("SpaceandPeople" or the "Group")

Trading update

 

SpaceandPeople, (AIM:SAL) the retail, promotional and brand experience
specialist, is pleased to provide a pre-close trading update for the half year
ended 30 June 2022 ("H1-22").

Trading during H1-22 continued to recover following the negative effects of
Government advice in both the UK and Germany in relation to the Omicron
variant of Covid-19 in late 2021 and early 2022. Despite this, revenue for
HY22 was substantially better than recent first half performances at
approximately £2.5m (H1-21: £1.1m and H1-20: £1.1m) with all divisions
recovering well.

As at 30 June 2022, the Group had cash of £0.6m (30 June 2021: £0.8m and 31
December 2021: £1.4m), term loans of £1.6m (30 June 2021: £1.9m and 31
December 2021: £1.8m) and undrawn bank facilities of £0.75m (30 June 2021
and 31 December 2021: £0.75m). Therefore, cash headroom as at 30 June 2022
was £1.4m (30 June 2021: £1.5m and 31 December 2021: £2.1m) and net debt
was £1.0m (30 June 2021: £1.1m and 31 December 2021: £0.4m).

During the year to date, trading has recovered month on month and management
are confident that this will continue into the traditionally busier second
half of the year. On the basis there are no further pandemic induced lock
downs in either of the UK or Germany during H2-22, the Board anticipate that
full year revenue of the Group will be not less than £5.5m.

The Group expects to announce its 2022 interim results during the week
commencing 26 September 2022.

 

Contact details:

 SpaceandPeople Plc                   0845 241 8215
 Nancy Cullen, Gregor Dunlay

 Zeus (Nominated Adviser and Broker)  0203 829 5000
 David Foreman, Jamie Peel

 

 

 

 

 

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