REPEAT: SpaceandPeople shares rally as half-year revenue to double

Mon, 11th Jul 2022 10:40

(Alliance News) - SpaceandPeople PLC on Monday said it expects half-year revenue to more than double compared to a year ago.

SpaceandPeople shares were 14% higher at 114.00 pence each in London on Monday morning.

The Glasgow-based AIM-listed retail, promotional and brand experience specialist expects revenue of around GBP2.5 million in the first half of 2022, more than double the GBP1.1 million achieved in both the first half of 2021 and 2020.

However, net cash is set to fall to GBP600,000 as at June 30 from GBP800,000 a year ago.

"During the year to date, trading has recovered month on month and management are confident that this will continue into the traditionally busier second half of the year," the company said.

It expects 2022 revenue to reach GBP5.5 million if there are no further Covid lockdowns in the UK and Germany in the second half of the year, which would be up from GBP4.5 million in 2021.

By Tom Budszus; tombudszus@alliancenews.com

SpaceandPeople