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18 Feb 2010 07:00
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18 February 2010
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SpaceandPeople plc ("SpaceandPeople" or the "Company")
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First Quarter Trading Update
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SpaceandPeople, (AIM: SAL) the experiential marketing and media group, announces a trading statement following significantly improved trading in the first quarter of its financial year, commencing 1 November 2009.
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Highlights
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Β§ Total billings increased by 18 per cent in the period 1 November 2009 to 31 January 2010 to Β£2.88m (2009: Β£2.45m)
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Β§ Strongest start of any financial year since admission to AIM
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Β§ Operational efficiencies and increased client demand driving increase in revenues
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Β§ Cost base remained stable, enhancing operating profits
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Β§ In discussions with approximately 40 more venues in the UK
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Β§ German operation performing well with turnover ahead of budget
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Of particular note is the 18 per cent increase in sales, the strongest period of first quarter trading since the Company's shares were admitted to trading on AIM in December 2004, and ahead of management expectations.Β
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The Company believes the uplift reflects a combination of its 2009 investment in upgrading UK and international sales operations as well as increased marketing spend by its corporate clients seeking innovative routes to consumer markets.
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The Company notes that the growth is primarily organic with its cost base remaining stable and operating profits positively impacted as a result. The Company does not have any debt and has a healthy balance sheet.
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The Company has registered its strongest ever pipeline of new venues and is currently in discussions with approximately 40 more venues in the UK regarding the provision of SpaceandPeople's market leading services. In total, the Company currently represents more than 300 venues with a footfall of 28 million customers per week in Europe.
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The Company's expansion in the core market of Germany continues to make good progress. The SpaceandPeople Deutschland operation is generating turnover ahead of budget and is enjoying an increased sales pipeline.
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Matthew Bending, Group Chief Executive, said: "This is a strong start to the financial year and bodes well for the rest of 2010. As well as operational efficiencies and improved billings, we are benefitting from a freeing up of marketing budgets by larger corporate brands. Our corporate client base is starting to invest again in fresh and innovative ways to get their products in front of customers."
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ends
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Contact details
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SpaceandPeople |
07872 666418 |
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Matthew Bending |
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Pelham Bell Pottinger |
020 7337 1512 |
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David Rydell / Kate Catchpole |
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Seymour Pierce |
020 7107 8000 |
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John Cowie / David Foreman |
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About SpaceandPeople plc
The Company facilitates and manages promotional space for marketing campaigns in shopping centres and other high footfall locations, such as theme parks and airports. Clients include world leading brands such as BT, Hilton, Coca-Cola, Orange, Mazda, Gillette, Siemens, Smirnoff and Pepsi. SpaceandPeople is at the forefront of developing the concept of space as an advertising and promotional medium. It offers consumer brands the opportunity to promote their products through direct engagement with consumers through a mix of experiential marketing events and complementary above the line advertising and multimedia campaigns. SpaceandPeople offers a comprehensive service covering brokerage, consultancy and venue centric media buying. SpaceandPeople is independently funded and its shares are admitted to trading on AIM.
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