REG - SpaceandPeople PLC - Pre-Close Trading Update and Notice of Results <Origin Href="QuoteRef">SAL.L</Origin>

SpaceandpeopleAnnouncement

15/01/2018 07:05

RNS Number : 6513B
SpaceandPeople PLC
15 January 2018
SpaceandPeople plc
("SpaceandPeople" or the "Group")
Pre-Close Trading Update and Notice of Results
SpaceandPeople, (AIM:SAL) the retail, promotional and brand experience specialist, today issues a pre-close trading update ahead of its preliminary results for the year ended 31 December 2017.
The Board is pleased to report that trading during the final quarter of 2017 was strong, with total revenue for the financial year being in line with market expectations. However, due to the mix of revenue from the individual divisions being slightly different, overall profit before taxation will be 100k higher than anticipated at around 1.2 million.
Cash generation remained good throughout the financial year and the year end cash position was 2.6 million. 0.7 million of this cash balance had initially been expected to be paid out to clients before the year end, but due to timing differences, this did not happen. The adjusted cash balance would have been 1.9 million (2016: 0.4 million). In addition to the strong cash position, the Group repaid all of its bank debt during 2017 and was debt free at the year end.
As stated in the 2017 Interim Results, the Board intends to recommence dividend payments and will propose a final dividend of 1.5p per share at the AGM for shareholder approval.
Notice of Results
The Company expects to announce its preliminary results on 26 March 2018.
Contact details:
SpaceandPeople Plc
0845 241 8215
Matthew Bending, Gregor Dunlay

Cantor Fitzgerald Europe
020 7894 7000
David Foreman, Will Goode (Corporate Finance)

Alexander Pollen (Sales)

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.
About SpaceandPeople
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.

This information is provided by RNS
The company news service from the London Stock Exchange
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