Analyst Research Report Snapshot

Title:

SpaceandPeople; Double digit growth to continue

Price:

$100.00

Provider:

Equity Development

Date:

17 Apr 2013

Pages:

9

Type:

AcrobatPDF

Companies referenced:

SAL.L

Available for Immediate Download
Summary:

SpaceandPeople leads the way in developing the concept of space as an advertising and promotional medium, with the primary objective of maximising revenue potential from underutilised, available, floor space, in high footfall consumer situations such as shopping centres and retail parks Recent 2012 results confirmed our expectations that the Group is growing at a double digit rate and that this is likely to continue for the foreseeable future. The first quarter of 2013 has traded well, which gives us confidence to publish our updated, full year forecasts. We expect over 20% organic earnings growth, giving adjusted EPS of 10.35p in 2013. We also expect dividend growth of 15%, highlighting both the Group's on-going requirement to invest in the business, and management's optimism for the future. Thus we reiterate our fair value on the shares of 150p, versus 106p today.

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