23rd Jan 2015 08:10
LONDON (Alliance News) - SpaceandPeople PLC Friday said it expects to report full-year profit at the upper end of market expectations, boosted by "robust" trading in the last four months of the year.
Meeting the upper end of market expectations would give a boost to the marketing specialist following two profit warnings last year on challenging conditions for some of its operations.
In a statement, SpaceandPeople also said cash inflows were higher than expected, with a net cash balance of GBP1.5 million at the end of 2014. At the end of the prior year the company had a net cash balance of GBP1.9 million.
SpaceandPeople facilitates and manages promotional space for marketing campaigns and retailing in shopping centres and other high footfall locations, such as theme parks and railway stations.
"Despite it being a difficult year I am pleased to say that the core UK and German businesses had a good return to form in the second half. The company is making good progress with new higher margin products and we look forward to 2015 with confidence," Matthew Bending, chief executive, said in a statement.
SpaceandPeople is to publish its full-year results on March 23.
Shares in the company jumped on the news, up 26% to 56.9 pence to be the best performers in the AIM All-Share in early trade.
By Samuel Agini; [email protected]; @samuelagini
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