Last checked at 24 May 2022 07:00
24 May 2022
THE PEBBLE GROUP PLC
("The Pebble Group", or the "Group")
AIM: PEBB
AGM Statement and Notice of Results
Strong year to date performance with HY 22 revenue expected to be well ahead of prior year
Ahead of the Annual General Meeting ("AGM"), which is being held later today, The Pebble Group announces the following trading update.
The Group's performance in the year to date has been strong. Driven by both new customer acquisition and a continued improvement in sales from existing customers, revenue in the six months to 30 June 2022 ("HY 22") is expected to be well ahead of the comparable period in the prior year (HY 21: £46.8m) and in line with management expectations.
Our Group is focused on the circa $50bn global promotional products industry and aims to establish strong differentiation in this market to achieve superior growth and margins. We have two high quality, non-competing businesses, being Facilisgroup and Brand Addition.
Facilisgroup: providing a digital commerce platform for promotional products businesses in North America
The positive trajectory of our key performance measures is driving year on year growth in Annual Recurring Revenue with, to date, both Gross Merchandise Value and Preferred Supplier purchases made by our Partners well ahead of the same period in the prior year. Partner numbers implemented plus contracted and awaiting implementation now total 214 (31 December 2021: 206).
Our product development programme which is designed to extend the capabilities of our digital commerce platform continues to progress. Our ambition is to enter 2023 with an increasing customer base through the launch, in June 2022, of our ecommerce solution.
This positive momentum gives us confidence in our strategy to scale the business and maximise on the opportunities for Facilisgroup.
Brand Addition: providing promotional products and related services under contract to many of the world's most recognisable brands
Brand Addition's order intake to date in 2022 has been positive, underpinned by a strong performance in the Corporate Programmes division. As a result, HY 22 revenue is expected to be well ahead of HY 21.
Our supply chain continues to be well-controlled. Client deliveries are being managed to agreed schedules and the gross margins being achieved in 2022 are in line with management expectations and ahead of those in FY 21.
Outlook
The Board is pleased with the achievements and progress of Facilisgroup and Brand Addition across all metrics.
We continue to execute on our stated strategies for our businesses and intend to issue a further trading update to investors in mid-July ahead of announcing the Group's HY 22 Results in full on 6 September 2022.
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) Chris Bowman / Arnav Kapoor | +44 (0) 20 3207 7800 |
Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke
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+44 (0) 7715 769 078 +44 (0) 7967 816 525 thepebblegrouppr@belvederepr.com
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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.