The Pebble Group - FY23 trading update

The Pebble Group's year-end trading update confirms that the outturn has been in line with the revised guidance from November's update, with revenue of £124m and adjusted EBITDA of around £16m, also reflected in our modelling. The only divergence is in cash generation, which has been better than we anticipated, with a year-end net cash balance (excluding leases) of £15.9m, against our modelled £15.1m. The results announcement is set for 19 March, at which point the outlook for the current year should be clearer.

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