Trading Update and Notice of Results
MANCHESTER, UK / ACCESSWIRE / January 18, 2024 / The Board of The Pebble Group, a leading provider of technology, services and products to the global promotional products industry, announces that the Group's results for the year ending 31 December 2023 ("FY 23"), which will be published on Tuesday 19 March 2024, are expected to be in line with current market expectations following the Trading Update made on 22 November 2023.
Group revenue will be circa £124m (FY 22: £134.0m), which is expected to generate Adjusted EBITDA at circa £16m (FY 22: £18.0m).
Cash generation was slightly ahead of expectations, with Group net cash (excluding IFRS 16 liabilities) at 31 December 2023 of £15.9m (31 December 2022: £15.1m).
Facilisgroup has continued to deliver highly attractive profit margins with EBITDA margins expected to be at circa 50% for FY 23 and revenue expected to be over USD22m (FY 22: USD20.4m).
Brand Addition revenue is expected to be circa £106m (FY 22: £117.4m) delivered on increased gross margins compared to 2022. This decrease in revenue has been driven principally by the spend of our Technology and Consumer clients, whilst revenue from our Engineering and Transport sector clients has been more robust. Client retention continues to be high.
Both of our businesses remain strong financially, are differentiated within their respective markets and have a clear strategic plan. Our balance sheet is robust and we will update stakeholders on the start of 2024 trading alongside the announcement of our FY 23 Final Results.
Enquiries:
| The Pebble Group Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer +44 (0) 750 012 4121 | Temple Bar Advisory (Financial PR) |
| Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Ciara Donnelly +44 (0) 207 184 4384 | Berenberg (Corporate Broker) |
About The Pebble Group
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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SOURCE: The Pebble Group PLC
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