Last checked at 19 Jan 2021 07:00
19 January 2021
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The Pebble Group Plc
("The Pebble Group", the "Company" or the "Group")
TRADING UPDATE
FY 20
The Pebble Group, a leading provider of technology, services, and products to the global promotional products industry, is pleased to announce that the positive momentum achieved across the Group in Q3 20, continued throughout the final quarter. As a result, the Board now expects that the results for the full year ended 31 December 2020 ("FY 20") will be ahead of market expectations with Adjusted EBITDA not less than £9.5m.
Cash generation was strong in Q4, with net cash (excluding IFRS 16 liabilities) at 31 December 2020 of £7.1m, after outflow of £2.7m for the acquisition of software assets, as announced on 18 December 2020.
Concentration on our clients, culture and cash enabled the Group to navigate its way through an unprecedented and challenging 2020. We enter the new financial year with all major clients and Partners intact, a strong balance sheet, a highly motivated team and having acquired some strategically important software assets, funded through Group cash flows, which accelerates the ecommerce capabilities of Facilisgroup.
In a year that brought so much uncertainty, the teams across our businesses in Europe, North America and Asia showed great care for each other, our clients and suppliers, and the Group's long-term success. The Board's thanks go to everyone in the business for their unwavering commitment and support.
In 2021, The Pebble Group team is seeking to build upon the Q4 20 sales recovery at Brand Addition and use the software acquisition in December 2020 to further strengthen the ecommerce platform capabilities at Facilisgroup. The Board believes the Group is well-placed for growth in 2021 and we look forward to updating shareholders on progress in the FY 20 Final Results announcement towards the end of March.
Enquiries:
The Pebble Group plc Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer
| +44 (0) 161 786 0415 |
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke
| +44 (0) 20 7184 4384 |
Berenberg (Corporate Broker) Chris Bowman / Jen Clarke / Arnav Kapoor
| +44 (0) 20 3207 7800 |
Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke Llew Angus | thepebblegrouppr@belvederepr.com +44 (0) 7715 769 078 +44 (0) 7967 816 525 +44 (0) 7407 023 147 |
About The Pebble Group plc - www.thepebblegroup.com
The Pebble Group is a provider of products, services and technology to the global promotional products industry, comprising two differentiated businesses, focused on specific areas of the promotional products market:
Brand Addition - www.brandaddition.com
The Group's promotional product merchandise business, Brand Addition, is a leading provider of promotional products to global brands. Brand Addition utilises its global network to source and deliver complex and creative promotional product solutions to support the marketing efforts of its multi-national clients, who operate in sectors which include health & beauty, fast moving consumer goods, transport, technology, banking & finance and charity. Brand Addition's clients primarily comprise major global brands.
Facilisgroup - www.facilisgroup.com
The Group's SaaS business, Facilisgroup, provides subscription-based services to SME promotional product distributors in the United States and Canada. Facilisgroup's suite of services includes business intelligence software, buying power and community events. Through its @ease proprietary software, Facilisgroup offers a SaaS technology platform that enables its network of Partners to improve order management, CRM and sales analysis and reporting. Facilisgroup also provides its Partners with access on favourable terms to a selected group of preferred suppliers, by consolidating the purchasing power of its Partners. This attracts rebates from suppliers, who in turn benefit from access to a network of selected distributors.