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THE PEBBLE GROUP PLC Earnings Release 2023
7963_er_2023-07-25_d70d12be-b801-4add-915a-a336c1023861.html
Earnings Release
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National Storage Mechanism | Additional information 
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 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 PR) Cat Valentine Keeley Clarke |
[email protected] +44 (0) 7715 769 078 +44 (0) 7967 816 525 |
|
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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