Pebble Group PLC (The) Trading Update and Notice of Results (0187H)
25 Julio 2023 - 1:00AM
UK Regulatory
TIDMPEBB
RNS Number : 0187H
Pebble Group PLC (The)
25 July 2023
25 July 2023
THE PEBBLE GROUP PLC
("The Pebble Group", or the "Group")
AIM: PEBB, OTCQX: PEBBF
Trading Update and Notice of Results
Continued growth across all major financial metrics
The Pebble Group, a leading provider of digital commerce,
products and related services to the global promotional products
industry, is pleased to provide an update on trading for the six
months to 30 June 2023 ("HY 23" or the "Period") ahead of its Half
Year results, which will be announced on 5 September 2023.
The Group's financial performance in HY 23 will show growth
across all major financial metrics, compared to HY 22.
The working capital cycle remains consistent with prior years
and following a dividend payment in HY 23 of GBP1.0m (HY 22:
GBPnil) net cash on 30 June 2023 was GBP4.2m (30 June 2022: Net
debt GBP0.1m, 31 December 2022: Net cash GBP15.1m).
Facilisgroup: providing a digital commerce platform for
promotional products businesses in North America
Revenue in the Period is expected to be circa 20% ahead of the
prior period and strong EBITDA margins have been maintained (HY 22:
47%).
Our strategy to introduce further technology products, that
widens our addressable customer numbers, remains on track.
With its current rate of growth and excellent profit margins, we
expect Facilisgroup to become the majority contributor to Group
profits moving through 2024.
Brand Addition: providing promotional products and related
services under contract to many of the world's most recognisable
brands
Revenue in the Period is expected to be slightly ahead of the
prior period and client retention has remained high.
EBITDA margins have been maintained (HY 22: 8.3%) through an
improvement in gross margins compared to the prior period, matching
the costs of the additional expertise invested into the business to
support our large international clients and their increasingly
complex requirements.
Outlook
We are consistently progressing on our stated strategies and our
HY 23 performance leads us to expect that the Group is on track to
deliver FY 23 results in line with current market expectations.
Enquiries:
The Pebble Group plc
Chris Lee, Chief Executive Officer
Claire Thomson, Chief Financial Officer +44 (0) 7385 024855
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke /
Ciara Donnelly +44 (0) 20 7383 5100
Berenberg (Corporate Broker)
Ben Wright / Marie Moy / Yasmina Benchekroun +44 (0) 20 3207 7800
Belvedere Communications (Financial thepebblegrouppr@belvederepr.com
PR) +44 (0) 7715 769 078
Cat Valentine +44 (0) 7967 816 525
Keeley Clarke
About The Pebble Group plc - www.thepebblegroup.com
The Pebble Group is a provider of digital commerce, products and
related services to the global promotional products industry,
comprising two differentiated businesses, Facilisgroup and Brand
Addition, focused on specific areas of the promotional products
market. For further information, please visit
www.thepebblegroup.com .
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END
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July 25, 2023 02:00 ET (06:00 GMT)
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