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Shopping-centre space manager SpaceandPeople posted a small first-half loss, as a weaker performance in Germany offset growth in the UK.
Pre-tax losses for the six months through June amounted to £40k, compared to losses of £88k on-year.
Revenue fell 2.4% to £3.76m.
'Overall the numbers are quite similar to the same period last year, however, there have been significant movements in some divisions both positive and negative,' chief executive Matthew Bending said.
'The UK saw improvements in brand experience activity, but this was countered by a delayed roll out of German retail merchandising units in the first half.'
'New promotional and retail clients in the UK in the first half year have complemented a solid performance overall.'