Trading in year to date remains in line with expectations with continued strategic progress
Share Buy-Back programme planned to launch imminently
MANCHESTER, UK / ACCESSWIRE / April 30, 2024 / THE PEBBLE GROUP PLC ("The Pebble Group", or the "Group") (AIM:PEBB)(OTCQX:PEBBF)
Ahead of the Annual General Meeting ("AGM"), which is being held later today, The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, announces the following Trading Update.
Year to date the Group has delivered financial performance consistent with the same period in 2023 and whilst we remain early into the current financial year, trading at Facilisgroup and Brand Addition is progressing in line with the delivery of Full Year 2024 market expectations.
At Facilisgroup, in the year to date, Gross Merchandise Value and Preferred Supplier purchases are ahead of the same prior year period.
At Brand Addition, orders year to date are comparable to the same prior year period and gross margins remain strong.
Alongside the day-to-day business operations, we continue to pursue our stated strategic ambitions. In support of this, we have made key external appointments to strengthen the existing management teams at both of our businesses. At Facilisgroup, we are pleased to have appointed our first Chief Product Officer. This senior appointment brings new expertise to the business, which will enhance delivery of our medium-term strategy. At Brand Addition, we have appointed a Global Marketing Director to evolve the businesses' approach to new client acquisition alongside supporting the development of existing client relationships.
In line with the announcement made on 19 March 2024, the Company is also pleased to report that arrangements are now in place to initiate a share buy-back programme in the Company's Ordinary Shares up to a maximum aggregate consideration of £5.0m. Subject to resolution 15 (purchase of own ordinary shares) as set out in the notice of today's AGM being successfully passed, it is planned that the programme will be launched imminently.
Outlook
Whilst we remain early into the current financial year, trading at Facilisgroup and Brand Addition is progressing in line with the delivery of Full Year 2024 market expectations.
The Board continues to see attractive opportunities for both Facilisgroup and Brand Addition and we remain focused on executing our plan for 2024 and beyond.
The Group expects to issue its HY 2024 Results in September 2024.
Enquiries:
The Pebble Group Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer +44 (0) 750 012 4121 | Temple Bar Advisory (Financial PR) Alex Child-Villiers Sam Livingstone +44 (0) 207 183 1190 pebble@templebaradvisory.com |
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Ciara Donnelly +44 (0) 207 184 4384 | Berenberg (Corporate Broker) Ben Wright / Mark Whitmore / Richard Andrews +44 (0) 203 207 7800 |
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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SOURCE: The Pebble Group PLC
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