Half Year 2024 Spaceandpeople PLC Earnings Call Transcript
Key Points
- Gross profitability has significantly improved compared to the first half of 2023.
- Net cash position has improved linearly over the past few years, with continued debt repayment.
- Brand experience business saw a 98% year-on-year increase.
- Secured a new five-year contract with Network Rail and renewed major contracts in Germany.
- Expansion into new markets and products, including Rock Up and Pop Up services and the CORE data-driven sales tool.
- Operating loss, although reduced, still stands at roughly GBP150,000.
- Increased administrative expenses due to growth in sales and additional commission costs.
- Revenue figures have been restated due to a change in revenue recognition policy.
- Significant increase in receivables balance due to high trading activity in June 2024.
- Focus on debt repayment and balance sheet improvement means no immediate plans to resume dividend payments.
Good afternoon, ladies and gentlemen, and welcome to the SpaceandPeople PLC interim results investor presentation. (Operator Instructions) And I would now like to hand you over to the executive management team from SpaceandPeople PLC, Nancy, good afternoon.
Good afternoon and welcome to our results presentation. And as has been described, we're just going to be talking about our interim financial statements in this presentation. And the first slide is just a picture of one of our activations, which was a promotion for Rubicon drinks and was a climbing wall outside King's Cross station. And they also sampled 100,000 during that time.
Anybody who doesn't know us, we are the SpaceandPeople group. We match brands, retailers, and promoters with that target audience across the UK and Europe. Setup by myself, and I've got a person called Matthew Bending in 2000, listed in 2004. We are market leaders in the sale of any space across the UK and Germany.
In 2023, we built
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