Shares in SpaceandPeople PLC (AIM:SAL) surged 17.5% after the company issued a bullish trading update, driven by robust demand in the UK brand experience sector and a sharp turnaround in profitability.
The venues group reported first-half revenue of £3.7 million, up from £2.9 million a year earlier, and said it expects to break even for the half year, compared to a £0.2 million loss previously, even after a one-off investment in warehousing and operations.
Full-year revenue is now forecast at around £8.3 million, with profit before tax of approximately £0.5 million.
The company’s net cash position has improved to £0.75 million from a £0.4 million deficit last year. Results for the half year will be published in September.
The shares rose 21.5p to 144.5p.