DCSIMG

More space to see more people

  • by PETER RANSCOMBE
 

SHARES in Glasgow-based SpaceandPeople rose yesterday after the advertising and promotions firm landed a deal with FTSE 100 giant Land Securities.

SpaceandPeople, which uses empty spaces in shopping centres to demonstrate products and services to customers, will manage promotions in 12 of Land Securities’ sites, including the Overgate in Dundee, the Bridges in Sunderland and Gunwharf Quays in Portsmouth.

The five-year exclusive agreement with the UK’s largest real estate investment trust starts next month and provides SpaceandPeople with an additional weekly footfall of 2.4 million shoppers to offer to brands, promoters and retailers.

The firm, which operates more than 400 sites in the UK and Germany, has carried out promotions for companies including fruit juice maker Del Monte, skin care brand Nivea and make up producer Rimmel.

Shares in SpaceandPeople – which is due to release its 2011 financial results on Monday – closed up 1.5p or 2.4 per cent last night at 64p, valuing the business at about £12 million.

At the half-way stage, the company posted a rise in turnover to £4.3m from £1.6m and swung to a slim £14,000 pre-tax profit, turning round a £138,000 loss in the first half of the previous financial year. The firm’s promotions are seen by about 50 million shoppers each week and the company has begun expanding into the Indian market.

 

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