Spaceandpeople Share Discussion Threads

[roleybirkin] 26/4/2023 13:25

Market bidding for shares.

RSP now 87 - 89

Bid for 5,000 at 87p
Bid for 15,000 at 86.55p
MM will take 25,000 at 85p - 1.26%

Offered in 1,000 at 89p

[hatfullofsky] 26/4/2023 11:50

Cash balance is up 500k and debt it down 300k so we can expect their OP Cash to be at least 800k which puts the current valuation on a crazy 2 x Op Cash.

They have also stated

Trading momentum has continued in early 2023 in both the UK and Germany
The Board looks forward to continued increases in revenue and profitability for the year

I'm hoping for big things but in this market who knows what the reaction will be

[roleybirkin] 26/4/2023 11:39

Current valuation is indeed £1.63m...
Add the £1.9m in cash
and then the £1.5m in debt

Enterprise Value(EV) is currently just £1.23m?

With a positive statement and guidance for 2023 surely the shares have to re-rate through 200p?

[parsons4] 26/4/2023 10:15

Figures due next week. We know they are happy with trading for last year and so far this year. They had a £5.5m T/O and are valued at £1.63m. They could be making a net profit of over £1m which would put them on a PE of just over 1. Probably one of the cheapest shares around at present !!!

[hatfullofsky] 13/4/2023 08:10

Network Rail not running on time again, tender process now delayed another 6 months

[tommyknockers1] 21/3/2023 09:44

Good set of numbers with revenue in line with expectations…

Cash is very pleasing to see at £1.9m with the term loan reduced to £1.5m so net positive by £400k…

Enterprise value is now below £1m - yes below £1m…

Strong start to 2023 with Q1 being particularly strong against Q1 of last year with SAL pushing the social media trail hard as they clearly have ramped up brands and sales.

The Q4 video highlighted the switch in quality with significant brands being highlighted as new and returning clients.

What is fair value now? It certainly is not sub £1m and closer to one years revenue at maybe £5.5m…

[25october1969] 21/3/2023 08:47

Agree with you parsons, we now have hope where there once was despair. I have even topped up….. yet again

[hatfullofsky] 21/3/2023 08:45

Yep gross cash which has improved by 500k over the year and debt reduced by 300k

[parsons4] 21/3/2023 08:24

Topped up this morning, great RNS these are very much undervalued imho GLA

[boonkoh] 21/3/2023 08:18

Gross cash

[hatfullofsky] 21/3/2023 07:31

Fantastic update, confirmed expectations. Cash (£1.9m) is higher than Market Cap (£1.3m)

[rodney101] 21/12/2022 15:49

Interesting take mate

[1ax] 18/12/2022 15:08

Love the optimism. I hope you are right but they should have risen a wave of strong growth this year. I suspect competition, lack of investment in tech, venues doing it themselves and cutting S&P out of the loop. Cullen can do no worse than the previous CEO so maybe some of the losses on this account may reduce.

[roleybirkin] 17/12/2022 10:51

Thanks for posting the presentation - I will have a listen today.

You are correct with regards valuation versus revenue guidance in that the company looks cheap at the 80.50p level.

Valuation at close last night is £1,571,326
Revenue guidance is £5,500,000

So SAL sit on a revenue/EV rating of just 0.285 where a more normal 3 would be expected.

Revenue growth being 37.50% from the 2021 revenue of £4m or thereabouts.

There is some debt along with a decent working cash position (at end June 2022) so the company has around £2m of available cash so around 20 plus months of runway which is important in tough times.

What has changed in my view is having Nancy as CEO - early days in a turnaround for the company but the last two years have seen solid progress and I expect 2023 to see revenues grow again?

[dimknaf] 17/12/2022 10:21

I recently saw their presentation at Investormeet. The market capitalization is so low, and I hope that Justin Waite might influence the management or keep some check on them for not doing anything very silly towards the shareholderes (capital raise, dilution).


What worries me a lot is the a very negative trend of revenue after 2015. Apart from Covid, where we will have a recovery, what is the main factor that made the company lose all this revenue, and why is going to gain this back?

The capitalization is so low that I hope that some stabilization after being downsized can offer them positive margins. With that low market capitalization, they should skyrocket.

Unfortunately there were not much discussion or info on the company at the London Value Investing Club. For some other companies of the retail space with depressed valuation, there was some more discussion.

[tommyknockers1] 09/10/2022 12:27

Shares have continued to fall on small selling.
They are now 85 - 90
Valuation at £1.707m.
Hoping they dip further.
Happy to buy below 80p

[tommyknockers1] 03/8/2022 14:26

The company has announced that 2022 revenues will not fall short of £5.5m…
Valuation around the £2m level.
Hmmmmm.

[boonkoh] 03/8/2022 09:53

Interesting. New EBT can make purchases u to £200k. Which is 10% of the outstanding shares at the current price! Should provide some share price support.Obviously not a uyback as those shares will still be in issue and will come back onto the market some day....

[hatfullofsky] 11/7/2022 14:40

Zeus broker note, FY22 PBT GBP60k (sixty) but target price 220p

[parsons4] 11/7/2022 10:54

£0.4m PBT (achievable IMO) on a PE of 10 would mean double the share-price. There are not many quoted shares that are so undervalued IMHO.

[boonkoh] 11/7/2022 10:22

A pity that there was no mention of profitability. And explaining the drop in cash and net debt. IMO that is just due to working capital movements and trade receivables given the ramp up.My estimates for profit is a breakeven H1, and a H2 PBT of £0.25m to £0.4m, if they only hit their £5.5m revenue baseline for the year. Even at that low figure, the valuation is a bargain at a £2m market cap.My view is that given their month on month momentum and they see no signs of that not continuing, FY revenues might surprise to the upside around £2.7m and therefore we get a good £0.3m-£0.5m PBT for the full year.

[tommyknockers1] 29/6/2022 23:39

Wonderful 6 months.
Wonderful.

[robbothered] 28/6/2022 09:01

Roley, I wouldn't look too much into that. You intimate that each of the activations generated £46k over the six months leading up to December and that having 65 events will generate a further increase in revenue.

Many of the activations on the run up to December would have been more of the high-profile, high revenue activations. Since the turn of the year there has been turmoil in this industry and I would be surprised if SAL can match the previous 6 months revenue. As a shareholder I will happily be corrected though if that is the case.

[1ax] 25/6/2022 11:35

RoleyBirkin once bitten twice shy. They should be capitalising on the state of the property sector as they offer a revenue stream for short term cash. Not seeing any announcements on this front of new property wins. They appear to have more competition and yes it is good to see campaigns but property owners and rivals are showing bigger, better and higher numbers of activations. So unless they start putting out news (not social media PR) I will not be going back in.