Search Share Prices
SpaceandPeople beats full-year profit targets
Media specialist SpaceandPeople saw strong trading during the final quarter of 2017 that brought total revenue in line with market expectations, but thanks to the mix of revenue from the firm's individual divisions, overall pre-tax profit was anticipated to come in ahead of consensus.
SpaceandPeople estimated that group profit before taxation would total approximately £1.2m for the twelve months ended 31 December, around £100,000 higher than anticipated.
Cash generation at the firm "remained good" throughout the financial year as the group closed the calendar year with a cash position of £2.6m, well ahead of the £400,000 SpaceandPeople had on hand twelve months earlier.
SpaceandPeople, which also proposed a final dividend of 1.5p per share on Monday, was debt free as of 31 December after having repaid all of its bank debt during 2017.
The company expected to post its preliminary results on 26 March.
As of 1040 GMT, shares had gained 10.71% to 37.09p.