Pebble Group set to end year at least in line with expectations

Promotional products, services and technology company Pebble Group said on Tuesday that its results for the calendar year were expected to be at least in line with market expectations, and both of its businesses, Facilisgroup and Brand Addition, were trading well in the second half.

The AIM-traded firm said that by year-end on 31 December, it expected the milestones for the year at Facilisgroup to be met, with partners implemented or contracted and awaiting implementation to total about 205.

Gross merchandise value was expected to be at least $1.1bn, while spend with preferred suppliers would be about $0.33bn.

Revenue generation from Facilisgroup's ‘Commercio’ product, meanwhile, was expected to start in the second quarter of 2022.

At the same time, Pebble Group said it expected Brand Addition's revenue for the year to be around £100m, up from £72.6m in 2020 and £97.9m pre-pandemic in 2019, representing an “immediate and full” recovery from the “demand challenges” of 2020.

At year-end, the company was expecting its net cash balance excluding IFRS 16 lease liabilities to be no less than £9.0m, compared to £7.1m at the end of 2020.

“The board expects the group's results for 2021 to be at least in line with market expectations,” the directors of Pebble Group said in their statement.

“The group has a focused strategy to invest in scaling Facilisgroup's recurring revenues, alongside the continued attraction and retention of major contracts at Brand Addition and looks forward to updating stakeholders on progress against these goals throughout 2022.”

At 1009 GMT, shares in the Pebble Group were down 0.51% at 146.75p.