SpaceandPeople – 37p

11 May 2017 – trading update

The company has issued a very positive trading statement covering the first four months of the year with both revenues and pre-tax profit coming in well ahead of expectations.  The group has also successfully renegotiated the terms of a contract at the German retail division and this will result in lower rental payments for the group.  The combined effect of increased sales and lower costs means that pre-tax profits for the year to 31 December 2017 are likely to be £1.1m for earnings per share of  4.5p.  As we only tipped the shares last month at 21p, we reduce our recommendation to HOLD

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