SpaceandPeople swings to a loss following weaker fourth quarter

Brand experience specialist SpaceandPeople warned investors on Tuesday that trading in the final quarter of 2018 was "not as strong as had been anticipated".

SpaceandPeople said December trading had been particularly subdued - partly due to the "well documented difficult high street trading conditions".

The AIM-listed firm now expects to report a pre-tax loss of roughly £100,000 for the twelve months ended 31 December but still intends to maintain a dividend payment of 0.5p per share for the year.

SpaceandPeople also decided to write off £240,000 in goodwill related to its Indian business - which it said continued to trade at "expected levels" but noted the level of profitability could not support the carrying value of the goodwill at present.

"The board is confident that new initiatives, cost cuts and anticipated new business wins will return the group to growth in 2019 and beyond," said SpaceandPeople.

As of 0900 GMT, SpaceandPeople shares had dipped 4.41% to 16.25p.