A brace of railway station contracts has been unveiled by Spaceandpeople, the Glasgow-based advertising firm that rents out kiosks in shopping centres and other retail spaces.
Spaceandpeople has won its first contracts from Scotrail operator Abellio, covering the Dutch company’s Greater Anglia and West Midlands rail franchises in England. Network Rail has also extended a deal that was due to end in September for a further year.
News of the agreements came as Spaceandpeople delivered its pre-close update for the year to 31 December. Trading during the final months of the year was weaker than expected in its retail divisions but stronger in its promotions division.
Turnover for the year will sit at around £7.7 million, less than the company had forecast, but lower costs mean pre-tax profits will still hit market expectations. The company is due to release its full-year results on 25 March.
The company had around £1.2 million of cash at the end of the year, up from £800,000 at the close of the previous 12 months, and had borrowed £600,000 from its bank, compared with no borrowings at the last year-end. Spaceandpeople added: “Following the resumption of a dividend payment in the previous year, the board intends to increase the dividend payment this year and will propose a final dividend of 0.75p."
