Business
Pre-Close Trading Update and Notice of Results
Pre-Close Trading Update and Notice of Results.
About this update from Spaceandpeople Plc
[{"type":"text","content":"\n \nRNS Number : 6513B SpaceandPeople PLC 15 January 2018 \n\nSpaceandPeople plc\n \n(\"SpaceandPeople\" or the \"Group\")\n \nPre-Close Trading Update and Notice of Results\n \nSpaceandPeople, (AIM:SAL) the retail, promotional and brand experience specialist, today issues a pre-close trading update ahead of its preliminary results for the year ended 31 December 2017.\n \nThe Board is pleased to report that trading during the final quarter of 2017 was strong, with total revenue for the financial year being in line with market expectations. However, due to the mix of revenue from the individual divisions being slightly different, overall profit before taxation will be £100k higher than anticipated at around £1.2 million.\n \nCash generation remained good throughout the financial year and the year end cash position was £2.6 million. £0.7 million of this cash balance had initially been expected to be paid out to clients before the year end, but due to timing differences, this did not happen. The adjusted cash balance would have been £1.9 million (2016: £0.4 million). In addition to the strong cash position, the Group repaid all of its bank debt during 2017 and was debt free at the year end.\n \nAs stated in the 2017 Interim Results, the Board intends to recommence dividend payments and will propose a final dividend of 1.5p per share at the AGM for shareholder approval.\n \nNotice of Results\n \nThe Company expects to announce its preliminary results on 26 March 2018.\n \n \nContact details:\n \n\n\n\n\nSpaceandPeople Plc\n\n\n0845 241 8215\n\n\n\n\nMatthew Bending, Gregor Dunlay\n \n\n\n\n\n\n\n\nCantor Fitzgerald Europe\n\n\n020 7894 7000\n\n\n\n\nDavid Foreman, Will Goode (Corporate Finance)\n\n\n\n\n\n\n\nAlexander Pollen (Sales)\n\n\n\n\n\n\n\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nAbout SpaceandPeople\n \nSpaceandPeople facilitates and manages promotional space for marketing campaigns and retailing in shopping centres, railway stations, retail parks, airports and other high footfall locations. SpaceandPeople...