SpaceandPeople signs promotional space deal with British Land

The deal, which was announced on Monday and commenced on January 1 for an undisclosed sum, allows the AIM-listed company to manage promotional space at the Drake Circus Shopping Centre in Plymouth.

It’s expected the contract will be extended across 40 other assets, covering the majority of British Land's multi-let retail portfolio.

Chief executive Matthew Bending said it is a significant win for the company and will complement its existing business.

“Our team has a wealth of knowledge and we are looking forward to supporting British Land's vision of 'Places People Prefer' across the UK."

The company also issued a trading update, saying that trading in the second half of the year was in line with expectations, with full year profit before tax expected to be around £1m.

“Whilst this is slightly below current market expectations, the principal reason for this is due to a timing difference following a decision to recognise an element of promotional revenue that is now derived from Mobile Promotions Kiosks on the same basis as we recognise revenue from Retail Merchandising Units.”

Final results will be released on 29 March.