Spaceandpeople Share Discussion Threads

[saucepan] 03/4/2012 14:15

Today's news, combined with the lack of liquidity and investor interest, has been the last straw for me, so I have sold up. I shall just have to put SAL down to one of those investments that did not work out for me; disappointing.

I could only sell for 64.1p, but was quite surprised that I had no difficulty dealing in reasonable quantity. Someone must want the stock.

I moved my funds into TRAP, which does have momentum.

Good luck to those who keep the faith.

[cfro] 03/4/2012 11:56

Very poor imo. What they dont get is that if more investors where actually interested then the liquidity of the shares would improve and the rating would go up.

Now off my watchlist.

[glasshalfull] 03/4/2012 11:38

Lovely vote of confidence by a Director...128k share sale!

Mr Stainworth no longer has a holding following the sale and I'd suggest that this again another reason that will ensure PIs give this share a wide berth.


Regards
GHF

[glasshalfull] 27/3/2012 18:43

From today's edition of UK Analyst:-

Seymour Pierce kept its "buy" stance on SpaceandPeople (SAL), with a 100p target price. The experimental advertising company performed in-line with the broker's forecasts for the year ended 31st December 2011, with like-for-like revenues rising 19% to 10.66 million pounds. Seymour Pierce attributed the growth to the group's acquisition of Retail Profile, expanding its operations into the provision of retail stands. The broker added that the firm's net debt stood at 2.14 million pounds at the end of the period, resulting in net debt to equity of 36%. The shares dropped 2p to 68p.

Can't remember seeing it off tuppence....thought it rose to 70.5p mid on the day?

Regards,
GHF

[cfro] 26/3/2012 16:21

Great results and lovely rise. Well done guys.

My advice....stick with it!

[topvest] 26/3/2012 10:43

Very impressive results. I was concerned about the balance sheet this time last year, but they have generated lots of cash and repaid the vendor loan notes with ease. Looks very well placed now to expand further. Very good!

[glasshalfull] 26/3/2012 10:28

Well, Equity Development note out. Click link and register or select relevant note.



As I noted above, SAL were slightly shy of forecasts for 2011 but have retained this years forecasts of 8.1p EPS on diluted non-recurring basis.

Therefore earnings growth of 32.7% pencilled in this year placing the shares on a PER 8 with dividend yield of 4.5% demonstrating these really are as cheap as chips....but we know partly why.

Regards
GHF

[cambium] 26/3/2012 09:06

I'm waiting.."...:0)

[glasshalfull] 26/3/2012 08:08

Just quoted 75.44p for 10k when offer is sitting at 68p !!!

Hope management team read this as its blindingly obvious why there is no market in these shares. If I took that 10k I'm pretty sure the mm's would bid me less than 60p for these and therefore my paper loss would be around 25% immediately on the spread.


Regards
GHF

[glasshalfull] 26/3/2012 07:39

My initial thoughts...time for some proper analysis later.

*EPS came in slightly below my expectations. I was looking for 6.4p (per Equity Dev note) on a diluted non-recurring basis...and they've achieved 6.09p on diluted non-recurring basis.
*Cashflow strong and net debt far better than ED estimates, coming in at £263k (ED has net debt of c.£600k). They will comfortably move to a net cash position this year.
*Dividend Yield a tasty 4.5% and dividend of 2.9p bang in line with estimates.
*Strong performance across all divisions, with Russia and India now contributing to profitability.
*Bullish statement accompanying results and I particularly liked this comment in relation to the UK, by far their most important market,

"The development of our sales and customer services team, our new partnerships and the availability of additional venues means that the Board expects to see continued strong growth in the UK operations in 2012 and the coming years"


Overall a pleasing set of results and I'll be interested to see brokers forecasts on the back of these.

Regards,
GHF

[glasshalfull] 26/3/2012 07:23

Results out.



Highlights

·Revenue up 19% to 10.66mn on a like for like basis.

·Operating profit before non-recurring costs up 23% to £1.83mn on a like for like basis.

·Basic EPS up 30% to 6.49p on a like for like basis.

·Proposed dividend up 30% to 2.90p on an annualised basis.

·Largest operator in each of the 4 countries we are present in with weekly footfall of over 63mn people in the UK and Germany alone.

·Strong balance sheet with net assets of £7.66mn including cash of £1.43mn.

Regards,
GHF

[saucepan] 24/3/2012 19:30

Thanks GHF. I made my post and then your email came in. Happy coincidence, rather than speed off the mark.

[cambium] 24/3/2012 19:23

Compelling numbers saucepan

[cambium] 24/3/2012 19:21

Cheers ghf, I'll bear it in mind

[glasshalfull] 24/3/2012 19:19

Just pinged you an email saucepan...then saw your post. Boy, you're quick!

Regards,
GHF

[saucepan] 24/3/2012 19:18

I suspect there will be an opportunity to sell into strength next week.

I have shared the same frustrations. However, I do think I tend to over-trade so perhaps it is not a bad thing to be stuck with a good stock.

The following ShareScope fundamentals do look very exciting and one can perhaps do far worse than just stick SAL in a bottom drawer for three years and try to forget about it. I have accumulated a fairly decent chunk.

[glasshalfull] 24/3/2012 19:18

Wonder if we could arrange a mutual exchange Cambo? Ping me an email if you're interested.

[e-mail]

Regards,
GHF

[cambium] 24/3/2012 19:09

Cfro, I've been trying tomsell mine for about a month or so now, but I'm not willing to accept the silly prices offered, great company here and also would like a larger holding but liquidity is killing it here

[glasshalfull] 24/3/2012 19:03

Glasgow firm's mall brand deal

RETAIL advertising firm Spaceandpeople has struck a major deal with commercial property giant Land Securities.

The five-year agreement will see the Glasgow business manage brand marketing such as promotional hand-outs and product launches in 12 shopping centres across the UK.

The only Scottish location covered is the Overgate in Dundee with other malls including The Bridges in Sunderland and Portsmouth's Gunwharf Quays.

Spaceandpeople finance director Gregor Dunlay said: "In terms of the numbers and what it means for our business that remains to be seen.

"But Land Securities is the largest player in the UK market for shopping centres so it will have a fair impact on us. I would hope we can grow this relationship."


Regards,
GHF

[glasshalfull] 24/3/2012 18:59

Thanks cfro. Appreciate your kind sentiments.

Hopefully the company will try and improve liquidity as I fully understand why many will give this a wide berth. I tried to purchase a decent sized quantity during past week or so and quoted well over offer. So, I also placed a dummy trade to sell 5k out of curiosity.....quoted 52p when bid was 60p!!!

I believe in the long term story here but feel disinclined to add further when I'm effectively locked in and I've enough similar positions in PLUS market stocks and some small illiquid AIM ones.

Regards
GHF

[cfro] 24/3/2012 18:39

I feel greatly sad that i had to sell this due to extremely poor liquidity. The co looks to be on a strong footing, valued cheaply and has good growth prospects. But when one has to accept three pence below a already wickedly wide spread, it just did not make sense to try to build a decent sized holding.

Results on Monday should be good reading. Good luck to GHF, Saucy etc. still in.

[glasshalfull] 24/3/2012 08:38

Thanks 25/10/69.

I was on the move yesterday so hadn't the opportunity to delve further. Quite a coup taking these from Brandspace.

Both Equity Development & Seymour Pierce have pencilled in £1.8million PBT with ED indicating 6.4p EPS while share price have forecasted 6.9p, while as you mention the Land Securities RNS may propel forecasts higher in the coming year.

Both brokers are currently indicating that we can expect EPS growth of 25%+ this year...before any impact from the Land Securities is taken into account.

Hopefully all will be revealed on Monday.

Regards,
GHF

[25october1969] 24/3/2012 00:24

Hi Glassful

My understanding is that todays news from SAL is an important announcement and was a win from Brand Space. See RNS and links below to Brand Space website for White Rose shopping centre and The Bridges. A good question is why did Brand Space lose the contracts?





I would expect to see these removed from Brand Space website soon

A good set of results on Monday coupled with proper analysis of todays RNS could see a rerating of shares

All my opinion of course

[glasshalfull] 23/3/2012 14:19

Yep, good news saucepan.

These are simply too cheap but I suppose a lots to do with the illiquidity.

Regards
GHF