11th Feb 2025 11:20
(Alliance News) - SpaceandPeople PLC shares jumped on Tuesday morning after it said it expects to report that sales during 2024 came in ahead of market guidance.
Shares in the Glasgow-based promotional and short-term retail space provider rose 8.4% to 97.55 pence in London late on Tuesday morning.
The group expects to report full-year revenue of around GBP6.8 million, up 16% from GBP5.8 million last year and above market expectations. This was particularly driven by growth in its UK Brand Experience arm, and 'Rock Up and Pop Up' retail solutions offering.
"During 2024, the group prioritised investing in additional staff, both in relation to securing the renewed Network Rail contract and to deliver further anticipated growth across the business in 2025 and beyond," said SpaceandPeople.
"This increase in staff numbers along with commission and bonuses payable in relation to achieving key revenue targets means that profitability remains in line with market expectations."
The firm had gross cash of GBP1.9 million at December 31, unchanged from the year before, as well as GBP800,000 in term loans, down on-year from GBP1.1 million.
SpaceandPeople is due to release its full-year results in the week beginning April 14.
By Emily Parsons, Alliance News reporter
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