World Cup hits spend on promotional activity
Commercialisation agency Spaceandpeople recorded a loss of £0.09m in the six months to 30 June 2018, against a £0.17m profit a year previously. Turnover was down by 20 per cent over the period.
Chief executive Matthew Bending blamed declining footfall and brands diverting ad spend into other media during the World Cup. He said: “Experiential sales in the UK had been slower than expected at the start of 2018. Unfortunately, this trend continued with adverse weather conditions in two quarters and the diversion of the World Cup. These events have had an adverse effect on footfall in Germany and the UK and a reduction of advertising spend in the UK.”
The German business also suffered from the loss of a commercialisation contract with ECE, but Bending predicted the group will generate a profit this year, albeit down to £0.2m from the previous expectation of £1.0m.