SpaceandPeople PLC – SAL – Interim results
SpaceandPeople (AIM:SAL), the retail, promotional and brand experience specialist which facilitates and manages the sale of promotional and retail merchandising space in shopping centres and other high footfall venues, announces interim results for the six months ended 30 June 2020.
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Highlights Financial o Consolidated net revenue down 72% to £1.1m (H1 2019: £3.8m)
o Group loss before non-recurring costs and taxation £1.6m (H1 2019: loss £0.0m)
o Net cash outflow from operating activities £0.3m (H1 2019: outflow £0.2m)
o Facility headroom at 30 June 2020 of £2.2m (June 2019: £1.8m) and £1.6m at 30 September 2020 (September 2019: £0.9m)
o Basic loss per share before non-recurring costs 8.3p (H1 2019: loss per share 0.0p)
Operational
o Nancy Cullen promoted to Group Chief Executive Officer and Andrew Keiller as Chief Operating Officer
o Successful application for £1 million under CBIL Scheme
o Business effectively ceased for three months in quarter two of the year with venues beginning to reopen from May in Germany and June in the UK
o Substantial overhead reduction programme now completed
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