The company appears to be good at what is does and recently announced the following:
Friday 23rd March 2012 - SpaceandPeople, the retail, promotional and brand experience specialist, has announced that is has signed contracts with Land Securities, the UK's largest real estate investment trust, to manage mall retail and brand partnership activity in its shopping centres throughout the UK. The five year exclusive agreement with the FTSE 100 company starts from April this year and provides SpaceandPeople with an additional weekly footfall of 2.4 million shoppers to offer brands, promoters and retailers.
The agreement encompasses 12 venues including many of the leading UK shopping centres such as The Bridges (Sunderland), White Rose (Leeds), Gunwharf Quays (Portsmouth) and Overgate (Dundee).
The company's revenue is heavily skewed towards the UK but SAL has divisions in Germany, India and Russia and so is diversifying internationally.
Having said all this, my reasons for identifying SAL are a p/e of 8.1, 4.5% div yield covered more than twice plus growth forecast at 24% for 12 months to 31/12/12. I believe that the worst of the banking and Eurozone crisis is behind us and that consumer confidence is returning and there is pent up demand from recent years. Nevertheless companies will have to work hard to get consumers to spend with them and SAL is well positioned to take advantage of that in my opinion. Again the dividend means that I am paid to wait if my timing is off.