Outlook: Shares on promotion
2014 was undoubtedly a difficult year for SpaceandPeople across the spread of the group and the final results were broadly as earlier indicated. FY15 has started with the group in much better shape, with revitalised sales, a broader client base and fuller pipeline and on a reduced overhead structure. The dividend has been rebased in line with earlier guidance, but still provides a premium yield, with £1.6m net cash on the balance sheet at the year end. It may take a while yet to rebuild shareholder confidence, but the discount to the sector and market is considerable.SpaceandPeople is engaged in the marketing and selling of promotional and retail licensing space on behalf of shopping centres and other venues throughout the U.K. and Germany and also in India. Co.'s segments include promotional sales and retail, and other. Through its subsidiaries, Co. is involved in licensing of intellectual property, media, and leasing of retail merchandising units.
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