Reset for growth
​SpaceandPeople provides property owners with the means to capitalise upon the full commercial potential of their assets. It markets, sells and administers space in a range of venues including shopping malls, garden centres, city centres, retail parks and travel hubs (over 750 venues with a weekly footfall of 70m). Yesterday's interim results reveal improved financial stability which provides a good base for an emerging turnaround. Profitability improved as restructuring in 2014 assisted operating margins. Net profit attributable to shareholders was £12,000 for the period vs a £0.29m H1 14 loss, and they say that the FY15 outlook is in line with expectations. The Company has four key growth drivers: (a) addition of new venues; (b) selling more to each; (c) increased pricing for sales to promoters and occupiers and (d) higher commission rates for group services. Measured by these criteria the group made progress vs H1 2014. Network Rail and Auchan are potentially significant new clients, while band experience events for existing clients are well up on prior years. We think that our forecasts are conservative; assuming contracts due to expire are not renewed and build in no additional new business beyond that announced to date. We have taken into account costs of initiatives such as the French pilot, but no contribution to sales from this source in FY16. Similarly Network Rail makes a modest contribution in Q415 and FY16, but recruitment to manage the contract is absorbed up front.
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.
Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.