The Pebble Group’s AGM update confirms that trading is in line with FY24 expectations, with attractive opportunities for its two distinct businesses in the large, fragmented promotional products sector. Facilisgroup is a SaaS business, helping North American distributors to optimise their operations, with access to an approved supplier roster. Brand Addition services global brands’ needs for branded product for in-house and external programmes. The well-publicised dip in tech sector marketing spend was a key factor in Pebble’s Q423 outlook revision. Both segments are now well placed to benefit from improving corporate confidence, although timing is uncertain. Pebble is well funded, with £15.9m of net cash (excluding leases) at end FY23. The FY23 dividend doubled to 1.2p, and a £5.0m share buyback is now in place to enhance shareholder value.
01 May 2024
The Pebble Group - Two distinct businesses in one
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
The Pebble Group - Two distinct businesses in one
Pebble Group PLC (PEBB:LON) | 63.5 0 0.0% | Mkt Cap: 106.3m
- Published:
01 May 2024 -
Author:
Fiona Orford-Williams -
Pages:
19
The Pebble Group’s AGM update confirms that trading is in line with FY24 expectations, with attractive opportunities for its two distinct businesses in the large, fragmented promotional products sector. Facilisgroup is a SaaS business, helping North American distributors to optimise their operations, with access to an approved supplier roster. Brand Addition services global brands’ needs for branded product for in-house and external programmes. The well-publicised dip in tech sector marketing spend was a key factor in Pebble’s Q423 outlook revision. Both segments are now well placed to benefit from improving corporate confidence, although timing is uncertain. Pebble is well funded, with £15.9m of net cash (excluding leases) at end FY23. The FY23 dividend doubled to 1.2p, and a £5.0m share buyback is now in place to enhance shareholder value.