SpaceandPeople PLC, a retail and promotional brand experience specialist, released its interim financial results for the six months ended June 30, 2024. The company reported a 35% increase in group revenue to ยฃ2,929k, with growth across all divisions. The gross profit increased by 41% to ยฃ2,350k, while the loss after tax improved by 47% to ยฃ185k. The net cash outflow from operating activities improved to ยฃ939k, and the net bank debt decreased by 47% to ยฃ402k.
Operational highlights include strong UK promotional sales, the continued rollout of Rock Up and Pop Up kiosks in the UK and Germany, new contracts with Network Rail and Southeastern Trains, and the renewal of the German retail agreement with ECE until 2029. The German retail division also saw growth, with an increase in the average number of kiosks in operation.
The CEO, Nancy Cullen, expressed delight at the Groups performance, attributing the success to the unique selling points of the SpaceandPeople platform and service. She also highlighted the resilience of the business in the face of macroeconomic challenges and expressed confidence in the companys ability to continue developing and growing.