REG - Pebble Group (The) - AGM Trading Update and Notice of Results

PebbleAnnouncement

30/04/2024 07:00

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RNS Number : 4969M  Pebble Group PLC (The)  30 April 2024

30 April 2024

 

THE PEBBLE GROUP PLC

("The Pebble Group", or the "Group")

AIM: PEBB, OTCQX: PEBBF

 

AGM Trading Update and Notice of Results

Trading in year to date remains in line with expectations with continued
strategic progress

Share Buy-Back programme planned to launch imminently

 

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                                       Temple Bar Advisory (Financial PR)

 Chris Lee, Chief Executive Officer                     Alex Child-Villiers

 Claire Thomson, Chief Financial Officer                Sam Livingstone

 +44 (0) 750 012 4121                                   +44 (0) 207 183 1190

                             pebble@templebaradvisory.com (mailto:pebble@templebaradvisory.com)

 Grant Thornton UK LLP (Nominated Adviser)              Berenberg (Corporate Broker)

 Samantha Harrison / Harrison Clarke / Ciara Donnelly   Ben Wright / Mark Whitmore / Richard Andrews

 +44 (0) 207 184 4384                                   +44 (0) 203 207 7800

 

About The Pebble Group plc - www.thepebblegroup.com
(http://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 (http://www.thepebblegroup.com/) .

 

 

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