Record profits at Spaceandpeople
Published: 17 March, 2011
Commercialisation agency Spaceandpeople unveiled record profits for the 14 months to 31 December 2010, up 238 per cent to £1.67m
Group revenues were up 189 per cent to £7.77m due to the success of the acquisition of RMU specialist Retail Profile and the excellent performance of the German business. The company now represents 374 venues in the UK and Germany with a weekly footfall of 47m.
Chief executive Matthew Bending said Retail Profile UK, which was acquired on 24 May 2010, contributed £3.97m to revenues and £1.02m to operating profit. He said: “The UK venue stream has been developing well with major wins at eight major regional airports, the LaSalle portfolio of 16 shopping centres and 28 retail parks and Silverburn, a major out of town shopping centre near Glasgow.”
And in Germany the group saw many strong developments increasing revenues by 96% fto £1.24m. In November Retail Profile was awarded ECE’s first RMU contract with an expectation that there will be 200 RMUs in place by the end of 2012.
Bending also reported strong growth in the associate businesses in Russia and India.
