Investment Case: From around 140p, shares in SpaceandPeople plc (SAL) fell swiftly towards 60p last year following a profit warning on slower than anticipated sales. However, the final results statement for 2014 noted that “the cost base of the business at all levels has been lowered, the effectiveness of the sales team improved and a new mobile promotions kiosk product and service launched successfully. As a result, trading in the latter part of the year stabilised and also showed promising signs of growth”. This has since been followed by a positive AGM update and contract news and, at a current 80p offer price, the shares are a buy - we tipped this at 71.5p offer two weeks ago.
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