Pebble Group YTD trading in line with expectations

Promotional products industry service provider Pebble Group said on Thursday that it has performed "well and in line with management expectations" since posting its full-year results in March.

Pebble said its Facilisgroup unit was developing as anticipated, making "good progress" on its three key performance measures and remaining on track to meet management's milestones for the 2021 trading year, with the group still aiming for $50.0m in recurring revenues by the end of 2024.

"The positive trajectory in our three key performance measures is driving year on year growth in our annual recurring Revenue and gives us confidence in our strategy and the opportunities set out for Facilisgroup," said the company.

Over at Brand Addition, Pebble said order intake has been strong in the five months ended 31 May, with total sales orders invoiced or received at £64.8m, an increase of 62% year-on-year.

"The value of Brand Addition orders received to date and our current activity level is encouraging and we stay consistent with our previous messaging of targeting a return towards FY 19 revenues in FY 21," said the firm.

As of 1050 BST, Pebble shares were up 4.22% at 157.90p.