[ADVERT]
Share Name Share Symbol Market Type Share ISIN Share Description
Spaceandpeople Plc LSE:SAL London Ordinary Share GB00B058DS79 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 11.50 11.00 12.00 11.50 11.50 11.50 0.00 08:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 2.8 -3.6 -17.2 - 2

Spaceandpeople Share Discussion Threads

Showing 826 to 850 of 1250 messages
Chat Pages: Latest  38  37  36  35  34  33  32  31  30  29  28  27  Older
DateSubjectAuthorDiscuss
31/3/2016
12:31
I'm interviewing Matthew Bending, CEO of Spaceandpeople (SAL) on Monday morning (4 Apr 2016). So if you wish to submit a question for me to ask him, then the usual form is here: http://qualitysmallcaps.co.uk/ceo-or-fd-interviews/your-questions-please-spaceandpeople-sal-interview-4-apr-2016/ It's an independent interview (I'm NOT charging a fee), although I do hold shares in SAL myself. I will publish the interview on the afternoon of the same day. I hope you find it interesting, and do please feel welcome to submit questions, otherwise I'll have nothing to ask him! Regards, Paul.
paulypilot
29/3/2016
19:13
I'm holding as well. Results were in-line. Outlook was a tad more cautious than I would have liked. Overall, that's already priced in, so will hold for the recovery. Hopefully, it won't be long before they gain some further contracts.
topvest
29/3/2016
13:03
Cheers Professor X - here it is. "Revenue fell from £15.4m in 2014, to £13.8m in 2015 - mainly due to a large one-off (but low margin) contract in one division during 2014. Doesn't really matter - as an investor, I'm interested in profits, not revenues. Operating profit (before non-recurring costs) fell a little from £1,135k to £1,089k, but it's in the same ballpark, and in line with expectations, so that's fine. Note that there were no non-recurring costs this year, which is pleasing. So after non-recurring costs, operating profit actually rose from £744k to £1,089k. EPS - initially I couldn't understand why basic EPS (before non-recurring costs) had risen from 3.91p in 2014, to 4.26p in 2015, when operating profit had fallen slightly. The penny has just dropped - it's due to minority interests being much smaller in 2015 than in 2014 - so the profit in 2015 was mainly earned in subsidiaries which are 100% owned by SAL. This is positive for SAL shareholders, so don't worry too much about understanding this point if you're a non-accountant! Valuation - at 60p share price, and EPS of 4.26p, the PER is 14.1 - expensive? Not really, as PER is a blunt instrument at small caps where profits move about a lot. For various reasons, there should be good upside on earnings over the coming 2 years, so the market price is factoring in expectations of earnings rising from the low point of the last 2 years, after numerous problems hit the company in 2014. It is gradually recovering from those issues. Cashflow - this was poor in 2015, with the culprit being a large reduction in creditors, from £5.8m to £4.5m. I queried this point with the FD this morning, who indicated that it was just timing differences - creditors had been stretched in 2014, but have returned to normal in 2015. This is the big problem with balance sheets (and hence cashflow) - it's a snapshot on a particular day, so timing differences can greatly skew the year end figures. This is fine for one year, but I'll be looking closely to make sure that operating cashflow returns to normal in 2016. Note that capex has increased to £690k, financed by an increase in bank loans of £500k. This is mainly for the expansion of the successful new MPKs (mobile promotional kiosks), of which there are now 56 operating. These are high margin additional sales, so it's good that growth is being achieved here. Dividends - this company likes paying divis, and it's important to note that throughout a difficult patch in the last 2 years, the company continued to pay (reduced) divis. I like that. There is no interim divi, just a final divi each year, because the bulk of profits come from Xmas trade. The divi has been raised from 2p to 2.2p. The trajectory of divis should continue to be upwards. Note that the divi peaked at 4.1p in 2013. Admin costs - the company has demonstrated over the last 2 years that it can & does reduce costs if trading becomes difficult. This is important, as a variable cost base means that profit can be protected, or at least re-built after a time lag, if trade deteriorates. Outlook - the company is making cautiously optimistic noises about 2016. Remember that management got badly burned by putting out overly-optimistic guidance in 2014, when a lot of things unexpectedly went wrong. So they're now much more cautious with outlook. Forecasts should therefore be exceeded in future, or met even if things go wrong. The development of the MPK programme and the focus on product solutions as opposed to service solutions to UK and French venues in particular will be the key driver in 2016. The venues teams in Germany, UK and France have specific targets for rolling out MPKs and pop up retail solutions this year and this should make up the loss of the Whiterose Shopping Centre RMU contract. Although 2016 will see modest growth in profitability, the behind the scenes transformations the group is making will reposition and strengthen our offer which we believe will result in a more sustainable and growing business. There are 4 key drivers of future growth, namely; Network Rail contract - which has started well, but should kick in meaningfully from mid-2016 onwards. Mobile Promotional Kiosk continued roll-out of this new, successful, and high margin kiosk design. French pilot operations - currently this is loss-making, but not huge numbers (c.£100k p.a.), but should generate profits from 2017 onwards. British Land contract win - takes time to get up & running, so again is expected to be a profit driver more in 2017 than 2016. Brokers are forecasting an increase in profit from £1.0m to £1.3m for 2016, but the idea is that the bar is set low, so that hopefully the company can exceed this. My opinion - I'm happy to hold for another year. The company is recovering well from numerous problems in 2014. Indeed, the UK business is actually doing really well - if you look at note 4 of today's account for the divisional split, Germany's profits have collapsed from £586k in 2014, to just £99k in 2015. Yet that shortfall has been almost entirely recouped by a much stronger performance from its UK operations. It's an interesting niche business, has a good track record on dividend payments, and there are 4 clear growth drivers as noted above. Therefore my feeling is that we could be looking at a significantly more profitable group in say 2 years' time. It takes time for the market to forgive and forget profit warnings, but at some point I think the market will focus more on the growth potential coming through, and possibly re-rate the shares back up to nearer 100p, than the current level of 60p. That's not going to happen overnight obviously (unless someone bids for it, which is very unlikely), but it's good potential upside, providing nothing major goes wrong in the meantime.
masurenguy
29/3/2016
12:28
It's up on his site already Mas.
professor x
29/3/2016
12:02
Hmmm....a one line first time post, containing no insight whatsoever, hardly provides any credibility ! Sales were only down 10% largely because last years revenues were boosted by a significant one-off contract. This will be boosted this year by the Network Rail and British Land deals. More importantly eps was up 9% and the dividend was increased by 10%2.20p (FY14: 2.00p). The forward PER is just over 11 and drops to less than 10 on the predicted earnings forecast. Paul Scott is an investor here so it will also be interesting to read his view in due course.
masurenguy
29/3/2016
07:19
Revenue miss. EPS miss. Outlook for future profits flat...
carcosa
29/3/2016
07:16
Sales down 10%, profit flat, eps up by 84%, dividend up by 10% and forward prospects looking good ! RNS Number : 2642T SpaceandPeople PLC 29 March 2016 Preliminary Results and Proposed Final Dividend SpaceandPeople, the retail, promotional and brand experience specialist, is pleased to announce its preliminary results for the 12 months ended 31 December 2015. Financial Highlights -- Gross revenue of £26.5 million -- Net revenue of £13.8 million -- Profit before tax attributable to shareholders of £1.0 million -- Basic Earnings per share of 4.26p -- Proposed final dividend of 2.2p -- Net cash at year end of £0.7 million Operational Highlights -- 56 Mobile Promotion Kiosks in operation by the year end -- 5 year Network Rail contract won -- British Land contract won in early 2016 -- Immochan pilot MPK contract agreed in France starting in 2016 There were a number of areas where the business and product offering have been significantly changed for the future which we are confident will be of longer term benefit for the Group: -- Commercially, the winning of the Network Rail contract will allow the Group to expand its range of venues and provides the security of a long term contract; -- The Mobile Promotional Kiosk product was launched in 2014 and was expanded successfully in the course of the last year with 56 units currently operational and a target of expanding this to at least 80 to 90 units by the end of 2016; and -- We commenced a promising pilot project with Immochan in France, a geographic expansion with significant potential. We see the start-up costs on this as a fruitful investment. As these new initiatives roll out and deliver growth, there will continue to be existing venues which will opt to create commercialisation revenues in-house rather than use the services of SpaceandPeople, but the pipeline of new opportunities, venue development and geographic expansion continues to outweigh business reversals. It was also encouraging to see the cost base of the business lowered and underlying margins increasing in the course of the year. With an expanded range of venues, new products available, the Management Team are focussed on ensuring that the sales effort is stepped up to meet the potential of these opportunities. We believe that SpaceandPeople is creating a solid platform for growth and a sustainable future. The Board has decided to recommend a full dividend of 2.20p per share, a 10% increase on last year's dividend, payable on 29 April 2016 to all shareholders on the register on 15 April 2016.
masurenguy
05/2/2016
20:14
Yes, some more good news. Only one centre, but still good.
topvest
05/2/2016
17:59
From SAL on Twitter 40 mins ago We are pleased to announce that we have secured an exclusive agreement to manage promotional space in Ealing Broadway Shopping Centre Maybe not significant, as not clear if all or just a proportion of space, but they all count
25october1969
01/2/2016
15:39
Some interesting comments from Paul Scott on todays trading update. "Good growth is coming from the new Mobile Promotional Kiosks (MPKs), which are promotional kiosks which can be managed remotely, and are let for very short (one week) stints to various operators (e.g. charities, utility companies, and anyone who wants to promote a product or service face-to-face within a shopping centre). The branding is downloaded onto flat screens on the kiosks remotely, so they are set up with the correct branding for each client each week. These units have been well-received, and are generating much stronger margins than conventional units. Another growth activity is the Network Rail contract. Another decent contract win is announced today, with British Land, that should be extended to 40 sites in due course. Plus there is a pilot scheme in France starting. Management have learned from their mistakes, and are now guiding expectations fairly modestly, so that unexpected costs or setbacks can be absorbed within market forecasts. That should mean the likelihood of another profit warning is quite low now. I'm not concerned by a bit of revenue being deferred from 2015 into 2016, as the valuation is very modest now. So hopefully there should be scope for the 2016 figures to improve on 2015, with several growth catalysts underway. My feeling remains that SAL is on the mend nicely now, pays good divis, and therefore I'm happy to hold for another year - it's one of my long-term things, where I ride out any bumps in the road. My feeling remains that SAL is on the mend nicely now, pays good divis, and therefore I'm happy to hold for another year - it's one of my long-term things, where I ride out any bumps in the road." You can checkout his views on daily company trading updates at Stockopedia: http://www.stockopedia.com/
masurenguy
01/2/2016
14:04
Latest Equity Development analyst note on SAL. http://www.equitydevelopment.co.uk/doc/1448.pdf
masurenguy
01/2/2016
11:39
Agree Mas. No way this contained a profit warning in any sense of the word. Forecast EPS with lower top line is better profitability. Being interesting to see where that comes from in Finals. Hopefully most at GM would be nice - the MPK's ?? (we are expecting lower overheads as a result of management actions anyway) Yes they need to watch the cash - they were to loose £1m of their facility in December but may have replaced that - but its a pretty cash generative business. All round, a tick so far.
housemartin2
01/2/2016
11:32
Happy to see that SAL is on course, and will be interested to see any revised guidance for next year. The company looks to have a great pipeline of building revenue - Network Rail, British Land, Immochan and Mobile Promotion Kiosks all looking likely to add significantly for the forthcoming year. I'm also pleased to see that the drift in the share price over the last month or two was not due to leaking of news from within the company.
naeclue
01/2/2016
08:48
A deferral of £150K promotional revenue from 2015 to 2016, to conform with conventional accounting standards, is hardly a "sneaky profit warning". This is really not material on sales on circa £14m and with the eps coming in at 4.3p, plus the proposed 10% increase in the dividend, this indicates that management confidently see growth to be on track for 2016.
masurenguy
01/2/2016
08:38
Excellent news. No mention of how Network Rail is going, but otherwise pretty good given the weak H1. Should set up 2016 very nicely indeed. British Land contract is promising.
topvest
01/2/2016
08:37
A sneaky profit warning hidden in a positive announcement! But great to see trading in Q4 in line and new contract win. This should be trading closer to 20x PE for 2015, which means it probably still has another 20% to rise over the next week or two as investors digest the news.
boonkoh
01/2/2016
08:31
Looking a lot better here - this could be a crucial year for further profitable growth but they will have to watch their cash position. New Contract Win SpaceandPeople has signed a multi-year contract, which commenced on 1st January 2016, to manage promotional space at British Land's Drake Circus Shopping Centre in Plymouth. SpaceandPeople expects to extend this contract across 40 other assets, covering the majority of British Land's multi-let retail portfolio in due course. Retail assets in the portfolio include Meadowhall, Sheffield; Ealing Broadway, London; Old Market, Hereford; Glasgow Fort, Glasgow; Fort Kinnaird, Edinburgh; Teeside, Stockton-on-Tees; Broughton, Chester; and New Mersey, Speke. Matthew Bending, SpaceandPeople CEO, said: "This is a significant win for SpaceandPeople, and will complement our existing business. Our team has a wealth of knowledge and we are looking forward to supporting British Land's vision of 'Places People Prefer' across the UK." Trading Update Trading in the second half of 2015 was in line with management expectations. Management expects profit before tax attributable to shareholders for the year to be approximately £1.0m. Whilst this is slightly below current market expectations, the principal reason for this is due to a timing difference following a decision to recognise an element of promotional revenue that is now derived from Mobile Promotions Kiosks ("MPKs") on the same basis as we recognise revenue from Retail Merchandising Units. This change has resulted in the deferral of GBP150k of net promotional revenues from 2015 to 2016. The decision to account for revenue in this manner gives management better sight of future revenue and will be the standard accounting treatment applied to this type of revenue going forward. During 2015 the new MPK concept was rolled out as planned with 46 units operational by the end of the year. A decision was also taken to accelerate our investment in France during the final quarter of 2015, in advance of the Immochan contract start date of 1 January 2016, which is expected to help drive revenue more effectively. Despite these decisions, basic EPS is expected to be in line with market expectations at 4.3p and as a result, the Board intends to propose a final dividend of 2.2p per share at the forthcoming Annual General Meeting. This is a 10% increase on the 2.0p dividend paid in April 2015. After the investment of £650k in MPKs during 2015, net cash as at 31 December was £0.75m plus an additional £400k held in escrow (2014: 1.6m). Matthew Bending commented further: "2015 has been a transitional year for the business with a major contract being agreed with Network Rail for the first time, the successful launch of our MPK programme and the agreement with Immochan to launch a pilot scheme in France for the first time. The Company continues to progress and with the announcement of a new relationship with British Land we have had a positive start to 2016."
masurenguy
01/2/2016
07:57
Actually, Dividend 2.2p up 10% which gives a yield in excess of 3%+
knownowt
01/2/2016
07:44
Trading stqatement now out - Looks OK Dividend 2p - Revenue recognition adjustments -
pugugly
29/1/2016
09:12
A Y/E Pre-close trading update is overdue. During the past 3 years this has been issued between 23rd and 25th January. Therefore it must be imminent and should either be issued later today or Monday.
masurenguy
29/1/2016
08:58
No news yet - Now 5 weeks since Christmas so they should have known the position by now - The lack of a trading report gives me concern - or am I being too paranoid ?
pugugly
23/1/2016
21:13
It's all about 2016 now and so an ok profit for 2015 and a maintained or slightly increased dividend will do for me provided the outlook is good. Retail has been strong in recent months and with more money in people's pockets this is likely to be beneficial for SAL. Anyway we will find out next week no doubt.
topvest
23/1/2016
15:38
MG. Latest estimates (refs) for 2015 eps are Cantor (House broker) 4.1p and Edison 4.6p. "As such, the Group is committing significant resources ahead of these commencement dates. These set-up costs incurred in the current year" As you kindly point out above. Outcome will depend very much (imo) on how these costs are expensed - The notes to the accounts will be critical. If expensed fine - If significantly capitalised then (unspeakable word !!) On Cantor'e estimate looking at a historic p/e of about 14 - High (imo) for fair value UNLESS outlook statement confirms consensus estimate of 5.99p for 2016 in which case if YES then significant upside. (imo)
pugugly
23/1/2016
15:08
"With substantial new contracts commencing in the final quarter of the year, we have been augmenting and developing our sales and administration teams over the last few months to ensure that we deliver a full service of the highest standard to these clients from the very start. As such, the Group is committing significant resources ahead of these commencement dates. These set-up costs incurred in the current year will enable us to deliver the best possible outcome for the duration of these contracts. Overall, we believe full year 2015 will be in line with expectations." H1 Reort 21/9/15 Christmas was virtually a month ago so they have had plenty of time to issue any profit warnings if performance deviated from H1 expectations quoted above. If they were to subsequently come out with a profit warning in the pre-close trading update then their credibility will be undermined following last years events and this time it would be very difficult to recover. Consequently I am hoping that we will see an update that is at least in line with prior expectations.
masurenguy
23/1/2016
12:44
Drift continuing - now 54/57 region. Trading update should be due next week (last year on 23rd Jan) If worse than expectations could get hammered in this current market - If only meets - subject to forward expecations - could continue to slide - If better than expected possibly a 10%+ bounse given recent movements of other shares where the trading updates etc have been ahead of expectations. (all imo dyor no investment advise given or intended to be given just personal musings)
pugugly
Chat Pages: Latest  38  37  36  35  34  33  32  31  30  29  28  27  Older
ADVFN Advertorial
Your Recent History
LSE
SAL
Spaceandpe..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211206 09:28:18