24th Jan 2014 08:43
LONDON (Alliance News) - Media and retail solutions specialists SpaceandPeople PLC Friday said it expects pretax profit for the year ended December 31, 2013 to be in line with expectations, as it expanded its client base.
In a pre-lose trading update ahead of its results in March, the firm which markets, sells and administers space in high footfall venues, including shopping centres, said gross revenue for the year increased to GBP36.8 million, from 30.1 million in 2012.
Net revenue rose to GBP13.8 million from GBP13.1 million, as the company continued to expand its client base whilst delivering increased sales to its existing clients both in the UK and Germany.
Cash flow was again positive during 2013, with net cash being GBP1.9 million at the end of the year compared with GBP834,000 at the end of 2012.
During the period, SpaceandPeople said it had been boosted by a number of significant and iconic clients including St Pancras International, One New Change, The Garden Centre Group and Corio GmbH.
"These clients, together with our existing portfolio and our determination to win additional business place the Company in an excellent position to continue its growth going forwards," it added.
The firm will publish its result on March 24.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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