REG - Pebble Group (The) - Trading Update and Notice of Results

PebbleAnnouncement

25/07/2023 07:00

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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 £1.0m (HY 22: £nil) net cash on 30 June 2023
was £4.2m (30 June 2022: Net debt £0.1m, 31 December 2022: Net cash
£15.1m).

 

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                                                             +44 (0) 7385 024855

 Chris Lee, Chief Executive Officer

 Claire Thomson, Chief Financial Officer

 Grant Thornton UK LLP (Nominated Adviser)                                        +44 (0) 20 7383 5100

 Samantha Harrison / Harrison Clarke / Ciara Donnelly

 Berenberg (Corporate Broker)                                                     +44 (0) 20 3207 7800

 Ben Wright / Marie Moy / Yasmina Benchekroun

 Belvedere Communications (Financial PR)  thepebblegrouppr@belvederepr.com (mailto:thepebblegrouppr@belvederepr.com)

 Cat Valentine                            +44 (0) 7715 769 078

 Keeley Clarke                            +44 (0) 7967 816 525

 

 

About The Pebble Group plc - www.thepebblegroup.com
(http://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 (http://www.thepebblegroup.com/) .

 

 

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