SpaceandPeople, the Scottish Alternative Investment Market-listed group which runs promotional space in shopping malls, said yesterday it enjoyed another good year during 2006, lifting profits and turnover.

The Glasgow-based firm increased pre-tax profits by 48% to £454,943 from £307,000 during the year ended October 31. Turnover rose 37% to £1.93m from £1.4m.

Investors can look forward to an interim dividend of 1.5p per share on March 7, up from 1p last time.

Now entering its third year as a quoted company, SpaceandPeople has reported four consecutive years of growth.

The company said its special sales teams have created "real improvements" in sales and profitability. "We are now increasingly focused on the most profitable portfolio," the firm said in a statement to the Stock Exchange.

SpaceandPeople has expanded into France and has a French team working at its Glasgow headquarters to handle business across the Channel. Last year it acquired six prestigious venues in France - five in Paris, the other in Strasbourg - which belong to Hammerson France.

The centres welcome about 80 million visitors per year and incorporate more than 800 retail outlets. The company said it is looking at expanding into other overseas markets.

Jeremy Arnold, chairman, said: "We are in advanced discussions with other overseas property portfolios. They include one of the largest shopping centre portfolios in Europe."

He added: "We have an innovative marketing model that has been successfully established across the UK and is set on applying the body of knowledge and the associated techniques to other markets."

SpaceandPeople shares were down 1p at 84.5p.