Pebble Group, a leading provider of technology to the promotional-products industry in the UK, has announced positive financial results for the first half of the year. The company reported significant growth in all major financial metrics and expects to meet market expectations for the full year.
Strong Performance by Facilisgroup
Facilisgroup, a subsidiary of Pebble Group, saw a 20% increase in revenue in the half year ended June 30. The company has also maintained an impressive earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 47%. Pebble Group foresees that Facilisgroup will continue to contribute significantly to group profits through 2024.
Favorable Brand Addition Revenue
Pebble Group also saw positive results with its brand addition revenue, which slightly exceeded the figures from the same period last year. The company managed to maintain its EBITDA margin at 8.3%.
On Track to Meet Expectations
Pebble Group expressed confidence in its performance, stating that it is consistently progressing towards its strategic goals. The company’s strong performance in the first half of the year indicates that it is on track to deliver results that align with current market expectations for the full year.
Analyst Forecasts
While Pebble Group has not provided specific forecasts, FactSet data suggests that adjusted EBITDA for the year is estimated to reach £19 million ($24.4 million), based on the predictions of two analysts. This would mark an increase from £18 million in 2022. Furthermore, revenue is forecasted to reach £140.4 million this year, compared to £134.03 million in the previous year, according to four analysts.
Positive Market Reaction
Investors have responded positively to Pebble Group’s strong performance, with shares rising by 3.6% to 86.50 pence at 0827 GMT.