Trading in line, new contract sets up FY 2016
​SpaceandPeople provides retail property owners with ways 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
A positive pre-close update today has confirmed that underlying FY15 results will be in line with expectations, and significant new business wins are transforming the outlook.
H2 2015 trading was in line with forecasts. FY15 pre-tax profit attributable to shareholders is expected at c. £1m, slightly below prior estimates, although this was not due to lower business volumes. Brokered deals generate commission-based fees, recognised when contracted. This deferred £0.15m of revenues previously expected to be recognised in Nov/Dec into early 2016.
The statement included details of another ''significant win'' for the Group (CEO), and further evidence of how prospects have been transformed over the last 12 months. SAL has secured a new contract with British Land, one of the UK's leading retail shopping centre owners and operators.
Basic EPS is expected to be nearer prior forecasts at 4.3p, due to a lower tax charge and SAL indicated its intention to propose a 2.2p/share final dividend, 10% up y-o-y.
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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