SpaceandPeople (AIM:SAL) – reassuring update after a tough 2014
The retail, promotional and brand experience specialist has issued a reassuring pre-close trading update ahead of its final results for the year ended 31 December 2014 pointing to robust trading during the last four months of the year.
Profits for the year are now expected to be at the upper end of market expectations (Management guidance £800,000-£1m) and higher than expected cash inflows with a net cash balance at 31 December 2014 of £1.5m (2013: £1.9 million). The house broker commented how the general retail environment was favourable with retail spending on a positive trend in the UK and advertising spend growing at the strongest sustained rate at over 5%. The Group’s core UK and German businesses had a good return to form in the second half and they are making good progress with new higher margin products.…