Trading Update

RNS Number : 8834S

Pebble Group PLC (The)

19 July 2022

 

19 July 2022

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR.   Upon the publication of this announcement, this inside information is now considered to be in the public domain.

THE PEBBLE GROUP PLC

(the "Group" or the "Company")

TRADING UPDATE

FY 22 expected to exceed market expectations

The Pebble Group plc (AIM: PEBB), 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 2022 ("HY 22" or the "Period").

Trading in HY 22 has been strong. The financial results of Facilisgroup are anticipated to be in line with the Board's expectations in its home currency of USD and are ahead of expectations in GBP, as the Group benefits from a favourable exchange rate.  Brand Addition has traded strongly, with HY 22 performance well ahead of the same period in 2021 and we anticipate that its results for the year ending 31 December 2022 ("FY 22") will exceed market expectations.

Despite current inflationary pressures, the Group is pleased to report that EBITDA margin has been maintained.

While being conscious of the uncertainty surrounding the global economy, our strong HY 22 performance leads the Board to expect that the Group's FY 22 results will exceed current market expectations.

Facilisgroup: providing a digital commerce platform for promotional products businesses in North America

Partners, for our current Syncore offering, implemented or contracted and awaiting implementation at 18 July 2022 totalled 216 (31 December 2021: 206).

In the six months to HY 22, Gross Merchandise Value ("GMV") and spend through our Preferred Suppliers was ahead of the same period in the prior year by 38% and 54% respectively. Whilst maintaining this momentum, our goal is to enter 2023 with an increasing customer base, driven by our new ecommerce solution, Commercio, launched in early June 2022.

Brand Addition: providing promotional products and related services under contract to many of the world's most recognisable brands

At Brand Addition, the excellent revenue growth over prior year has been generated from new business wins in both 2020 and 2021, plus the continued growth in demand from existing clients.

Working closely with our supply chain, our teams across Europe, Asia and North America have improved gross margins compared to the prior year. We remain focused on sustaining this improvement through FY 22.

Outlook

With a strong HY 22 performance, the Board expects FY 22 to be ahead of expectations.  We will provide stakeholders with a full update on the Group's progress in the announcement of our HY 22 Results on 6 September 2022.

Enquiries:
 

The Pebble Group plc Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer	[phone]
Grant Thornton UK LLP  (Nominated Adviser) Samantha Harrison / Harrison Clarke / Ciara Donnelly	[phone]
Berenberg  (Corporate Broker) Chris Bowman / Arnav Kapoor	[phone]
Belvedere Communications  (Financial PR) Cat Valentine Keeley Clarke	[phone] [phone] [e-mail]

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, focused on specific areas of the promotional products market:

Facilisgroup -   www.facilisgroup.com

Facilisgroup focuses on supporting the growth of mid-sized promotional product businesses in North America by providing a digital commerce platform, which enables those businesses to benefit from significant business efficiency and gain meaningful supply chain advantage from the ability to purchase from quality suppliers under preferred terms. The value to our clients is reflected in the very high retention rates of the business.

Brand Addition -   www.brandaddition.com

Brand Addition focuses upon providing promotional products and related services under contract to some of the world's most recognisable brands. Its largest contracts are valued in the millions of pounds with the products and services supplied being used for brand building, customer engagement and employee rewards. Working in close collaboration with its clients, Brand Addition designs products and product ranges, hosts client-branded global web stores and provides international sourcing and distribution solutions.

We categorise our revenues into two divisions, Corporate Programmes, that supports our clients' general marketing activities, and Consumer Promotions, that supports our clients in driving their own sales volumes.

The Pebble Group aims to act responsibility through effective management of its Environmental, Social and Governance ("ESG"). To find out more, read our ESG report -  The Pebble Group ESG report 2021 . 

 

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