Business
Contract Win and Trading Update
Contract Win and Trading Update.
About this update from Spaceandpeople Plc
[{"type":"text","content":"\n \nRNS Number : 5500N SpaceandPeople PLC 01 February 2016 \n\nSpaceandPeople plc (\"SpaceandPeople\")\nContract Win and Trading Update\n \n· New contract signed with British Land\n· Successful roll out of Mobile Promotions Kiosk (\"MPK\") concept\n· Earnings in line with expectations\n· Proposed dividend up 10% to 2.2p\n· Positive start to 2016\nSpaceandPeople, (AIM:SAL) the retail, promotional and brand experience specialist, today announces a new portfolio contract win as well as providing a trading update ahead of its final results for the year ended 31 December 2015, which will be released on 29 March 2016.\nNew Contract Signed\nSpaceandPeople has signed a multi-year contract, which commenced on 1st January 2016, to manage promotional space at British Land's Drake Circus Shopping Centre in Plymouth. SpaceandPeople expects to extend this contract across 40 other assets, covering the majority of British Land's multi-let retail portfolio in due course.\nWith a high quality vision for their venues, British Land has chosen SpaceandPeople based on the company's track-record in brand experience and outdoor marketing. \nRetail assets in the portfolio include Meadowhall, Sheffield; Ealing Broadway, London; Old Market, Hereford; Glasgow Fort, Glasgow; Fort Kinnaird, Edinburgh; Teeside, Stockton-on-Tees; Broughton, Chester; and New Mersey, Speke. \nMatthew Bending, SpaceandPeople CEO, said: \n\"This is a significant win for SpaceandPeople, and will complement our existing business. Our team has a wealth of knowledge and we are looking forward to supporting British Land's vision of 'Places People Prefer' across the UK.\"\nTrading Update\nTrading in the second half of 2015 was in line with management expectations. Management expects profit before tax attributable to shareholders for the year to be approximately £1.0 million. Whilst this is slightly below current market expectations, the principal reason for this is due to a timing difference following a decision to recognise an element of promotional revenue that is now derived from Mobile Promotions Kiosks (\"MPKs\") on the same basis as we recognise revenue from Retail Merchandising Units. This change has resulted in the deferral of £150k of net promotion...