Business
Interim results for six months ended 30 June 2023
Interim results for six months ended 30 June 2023.
About this update from Spaceandpeople Plc
[{"type":"text","content":"\n\n25 September 2023\n \nSpaceandPeople plc\n(\"SpaceandPeople\" or the \"Group\")\n \nInterim results for the six months ended 30 June 2023\n \nSpaceandPeople (AIM:SAL), the retail, promotional and brand experience specialist which facilitates and manages the sale of promotional and retail merchandising space in shopping centres and other high footfall venues, announces its interim results for the six months ended 30 June 2023.\n \n \n\n\n\n\nHighlights\nFinancial\no Group revenue up 5% to £2,537k (H1 2022: £2,413k) due to German retail revenue increasing by 38% to £801k (H1 2022: £582k), partially offset by a decline in UK retail revenue of 23% to £468k (H1 2022: £609k).\n \no Operating loss increased by 11% to £355k (H1 2022: £320k) due to an increase in administration expenses including professional fees and staff costs.\n \no Loss after tax increased by 13% to £351k (H1 2022: £311k).\n \no Net cash outflow from operating activities of £1,058k (H1 2022: £470k) primarily due to reduction in creditors with a significant creditor as at 31 December 2022 being paid during H1 2023.\n \no Facility headroom at 30 June 2023 of £1,306k (30 June 2022: £1,368k) which has been increased post period end to £1,537k at 22 September 2023 (23 September 2022: £1,550k).\n \no Net bank debt as at 30 June 2023 has decreased by 25% to £763k (30 June 2022: £1,024k), with bank debt repayments of £323k since 30 June 2022.\n \nOperational\n \no Transformation of UK retail division with the continued roll-out of Rock Up and Pop Up concept.\n \no Growth in German retail division with average number of RMUs in operation increasing to 95 during H1 2023 (H1 2022: 69).\n \no Further contract extension with Network Rail until September 2024.\n \no New trading relationship Multi Germany GmbH in Germany agreed during September 2023.\n \n \n\n\n\n\n \n \nContact details:\n\n\n\n\nSpaceandPeople Plc\n\n\n0845 241 8215\n\n\n\n\nNancy Cullen, Gregor Dunlay\n\n\n\n\n\n\n\nZeus Capital Limited (Nominated Adviser and Broker)\n\n\n0203 829 5000\n\n\n\n\nDavid Foreman, Jamie Peel, Ed Beddows\n\n\n\n\n\n\n\n \n \n \n \nChief Executive's Interim Operating Statement\n \nIt is fantastic to be ab...