TIDMPEBB
RNS Number : 6430A
Pebble Group PLC (The)
03 June 2021
3 June 2021
THE PEBBLE GROUP PLC
("The Pebble Group", the "Company" or the "Group")
(AIM: PEBB)
AGM STATEMENT
Ahead of the Annual General Meeting ("AGM"), which is being held
later today, The Pebble Group announces the following trading
update.
The Board is pleased to say that the positive start to the new
financial year, which was reported in the Group's Final Results
2020 announced on 23 March 2021, has continued, with the business
performing well and in line with management expectations.
Facilisgroup
Facilisgroup is developing as anticipated. Our three key
performance measures are making good progress and are on track to
meet the management's milestones for FY 21, as set out in our Final
Results 2020, being the first step to the aspiration of $50m
recurring revenue by the end of 2024.
-- Partner (customer) numbers now total 186 (31 December 2020:
175), with a further 4 contracted and awaiting implementation
-- Gross Merchandise Value ("GMV") processed through our
technology is in line with our expectation. For the five months to
May 2021, GMV is 78% of 2020, a period when a number of our
Partners processed a high value of PPE sales. Positively, GMV is
116% of the same period in 2019, an important indicator
demonstrating the strong recovery of like-for-like Partner sales
together with the increase in our Partner numbers
-- Preferred Supplier purchases made by our Partners have
increased and are, as anticipated, moving back towards the
pre-COVID-19 percentage levels of 2019 of circa 45%
We continue to invest in the team both in terms of numbers and
skill sets to ensure that our infrastructure supports our
aspirations. This includes the development of our ecommerce
platform, allowing for the easy implementation of online stores to
existing and new Partners, which remains firmly on track. We will
integrate this ecommerce platform into our existing order workflow
software in 2021 and launch this product into the wider promotional
products market in early 2022.
The positive trajectory in our three key performance measures is
driving year on year growth in our Annual Recurring Revenue and
gives us confidence in our strategy and the opportunities set out
for Facilisgroup.
Brand Addition
Brand Addition's order intake for 2021 has been strong. In the
five months to the end of May 2021, total sales orders invoiced or
received are GBP64.8m, an increase of 62% compared to 2020 and an
increase of 28% compared to 2019, a period before any sales impact
resulting from COVID-19.
In our Corporate Programmes division (60% FY 20 divisional
revenues), order intake to date is well ahead of 2020, when, in
April and May 2020, initial lockdowns severely affected our sales.
Comparing to 2019, like-for-like order intake is recovering. New
clients won in 2020 are performing well and in line with our
expectation.
In our Consumer Promotions division (40% FY 20 divisional
revenues), we have benefited from a significant increase in sales
orders, as existing clients have consolidated their spend across
geographies using Brand Addition as a preferred and trusted
supplier. Due to the bespoke nature and long lead times of these
orders, the majority of Consumer Promotion orders that will be
invoiced in FY 21 are now received, resulting in good visibility of
what will be a very positive year for our Consumer Promotions
division.
To provide some context of recent trading, total Brand Addition
sales order intake in the month of May 2021 was 115% of May
2019.
The value of Brand Addition orders received to date and our
current activity level is encouraging and we stay consistent with
our previous messaging of targeting a return towards FY 19 revenues
in FY 21.
Outlook
The Board remains excited in the prospects for the Group and
looks forward to fully updating shareholders on its progress when
issuing the Half Yearly Results for the six months to 30 June 2021
on 7 September 2021.
Enquiries:
The Pebble Group plc
Chris Lee, Chief Executive Officer
Claire Thomson, Chief Financial Officer +44 (0) 161 786 0415
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke /
Lukas Girzadas +44 (0) 20 7184 4384
Berenberg (Corporate Broker)
Chris Bowman / Jen Clarke / Arnav Kapoor +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 +44 (0) 7407 023 147
Llew Angus
About The Pebble Group plc - www.thepebblegroup.com
The Pebble Group is a provider of technology, services and
products to the global promotional products industry, comprising
two differentiated businesses, focused on specific areas of the
promotional products market:
Facilisgroup - www.facilisgroup.com
Facilisgroup focuses on supporting the growth of mid-sized
Promotional Product businesses in North America by providing a
technology platform, which enables those businesses to benefit from
significant business efficiency and gain meaningful supply chain
advantage from the ability to purchase from quality suppliers under
preferred terms.
Brand Addition - www.brandaddition.com
Brand Addition focuses upon providing promotional products and
related services under contract to some of the world's most
recognisable brands. Its largest contracts are valued in the
millions of pounds with the products and services supplied being
used for brand building, customer engagement and employee rewards.
Working in close collaboration with its clients, Brand Addition
designs products and product ranges, hosts client-branded global
web stores and provides international sourcing and distribution
solutions.
We categorise our revenues into two divisions, Corporate
Programmes, that supports our clients' general marketing
activities, and Consumer Promotions, that supports our clients in
driving their own sales volumes.
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END
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