Spaceandpeople Share Discussion Threads

[foxking] 30/3/2015 13:01

Interesting Day so far .Anyone know of any breaking news ??

[cerrito] 27/3/2015 14:17

Good to hear presentation of Bending at last Wednesday's do which I could ot make
hxxp://equitydevelopment.co.uk/

[topvest] 23/3/2015 20:11

Both of these are reasonably positive:

Matthew Bending:

"A tough year has brought focus on developing the most profitable aspects of our business, cost cuts, a new board with added dynamism and experience, new products and a realisation if you don't innovate you go backwards. That said we have managed to generate £1 million of normalised profit for the year and the Board will recommend a final dividend of 2p per share at the forthcoming AGM. The management and Board feel we have a sustainable and profitable route to growth and we are driven to improve profits in 2015."

"There are four key drivers of growth in the core areas of our business: gaining additional venues, selling more activity to each venue, driving higher prices to promoters and occupiers and achieving a higher commission rate for our services. Of these four key drivers, the one that can have the biggest impact is gaining additional venues and in 2014 there were no significant portfolios up for tender or renewal. The 2015 pipeline is potentially much stronger and we are working hard to ensure that we are in a position to win as many new contracts as possible whilst continuing to increase the number of promotions and retailers we place into venues and improve the quality and pricing overall."

[topvest] 23/3/2015 19:08

No Stockopedia report I'm afraid. Think he was off for a long weekend now I think about it. I'm very surprised by the drop today. Think it was probably triggered by those hoping for a more positive outlook. They have been guarded for good reason in my view given what happened this time last year three or four weeks later. I will study further in due course when the accounts arrive, but I think this is good value at this price. As I said above, this group is very nimble and entrepreneurial. New ideas are coming forward and it's pretty impressive that 2 of their embryonic businesses are already profitable. Of course their stumbles in a number of their divisions are a concern, but small businesses do stumble on their growth path. I'm still of the view that these are stumbles rather than falls and am realistically hopeful that we should see a recovery within 12-18 months to double the existing share price and dividend.

[gostevie63] 23/3/2015 14:10

Of course! How silly of me. Many thanks TMFMayn & madmix for putting me right.

Kind regards,

Gostevie

[madmix] 23/3/2015 14:07

Gostevie63,

The answer is simple. 3rd April is Good Friday. 6th April is Easter Monday.

Therefore the next working day is used as the record date - 7th April.

[tmfmayn] 23/3/2015 14:06

Gostevie -- I think it is due to the Easter bank holidays.

[gostevie63] 23/3/2015 13:38

Apologies for what may be a stupid question. Page 12 of the new Report states:

"The Directors recommend a dividend of £390k being 2.00p per share, which will be payable on 27 April 2015 to all shareholders on the share register as at 7 April 2015"

7th April is a Tuesday. I was under the impression that these days company shares nearly always have a record date of Friday (not Tuesday) with the ex-dividend date being the preceding Thursday.

Is SAL an exception or am I missing something?

[tsmith2] 23/3/2015 12:11

topvest

anything out?

[topvest] 23/3/2015 10:01

Be interesting what Stockopedia say at 11.

[topvest] 23/3/2015 09:56

With respect you are continually negative on this company. My points, to get some balance:
- It's paid a good dividend year in year out.
- It repaid in full it's term loan facility and has a £500k bank facility.
- It has £2m of cash at the year end, albeit the year end position is probably better than ongoing monthly position.
- It has over £1m of fixed assets.
- It doesn't need a large working capital buffer to run the business - that is good and is reflective of a good business as all surplus capital is paid out in dividends.
- It's on a 5% dividend yield.
- It's got some innovative products and ideas which will lead to growth; S&P+, the mobile kiosk initiative etc.
- The business model is cash generative as customers pay in advance for an element of their revenue; c£1m of deferred income.
- It's on a forward P/E of about 10 which is cheap if it grows again as it could easily overshoot on recovery.

[winsome147] 23/3/2015 09:49

Not sure how you arrive at a target price of 20p. That would imply a bad business with bad debts. This business has a history of good growth (hit by a bad 6 months in 2014) and it has no debts and generates cash. In fact plenty of cash on balance sheet. 50p to 70p is more likely fair value until the interims and evidence of more growth. I'd rate it a HOLD of now.

[envirovision] 23/3/2015 09:30

.... or perhaps it will.

[envirovision] 23/3/2015 09:30

probably because balance sheet will have minimum working capital after dividend and eps a shade over 2 pence, no tangibles to speak of, a PE of 10 which seems pretty generous by all accounts would put it at 20 pence.

By all accounts why is it not dived further ?

[topvest] 23/3/2015 09:23

Not sure why these have dived. Results are in line and there are good drivers for future growth. They have learnt their lesson and have stopped promising the world in the outlook statement. Should be more profitable this year and have a better dividend. Balance sheet is fine. £1.6m of net cash. Net current assets are always marginal as this is a cash generative business with deferred income of c£1m at any point (i.e. advance payments from customers ahead of booking the revenue). Would expect to see some buying this afternoon. Anyway I'm optimistic. Even tempted to buy some more. I would expect an c3p dividend this year and possibly back to 4p next year, so the dividend yield is very supportive.

[envirovision] 23/3/2015 09:09

tsmith2 is right, it is bare, that is why I questioned its solvency last year. At least the dividend answers that question.

[zoolook] 23/3/2015 09:05

Not if the turnaround works. The profit is in line with expectations from their previous trading announcement.

[tsmith2] 23/3/2015 09:04

balance sheet looks v bare to me...most of it intangibles..

[envirovision] 23/3/2015 08:59

Looking somewhat over valued.

[paulypilot] 21/3/2015 00:24

Thanks hannahh,

Looking forward to seeing the presentation on Weds. I don't suppose the company would be presenting to us, if the figures & outlook were going to contain anything nasty!

Regards, Paul.

[1fox1] 20/3/2015 16:39

Moment of truth come Monday folks.

[hannahh] 23/2/2015 11:54

If you would like to see Matthew Bending, CEO, present on behalf of SpaceandPeople, with the opportunity to ask him questions please follow the link below. The forum will be held on 25th of March from 5pm, registration is free.



Also presenting are ServicePower Technologies and Vislink.

Thanks,
The Equity Development Team

[compound_dave] 16/2/2015 15:56

Another titride for SAL!

[fillipe] 16/2/2015 12:32

SAL perky again today....+7%.
Still a way to go.

f

[valueinvestorshouse] 05/2/2015 21:27

the original investment case firmly in place. nice to see this playing out. tinyurl.com/nd4uc8s