HY 23 results expected to be ahead of prior year period
MANCHESTER, UK / ACCESSWIRE / May 23, 2023 / Ahead of the Annual General Meeting ('AGM'), which is being held later today, The Pebble Group announces the following trading update.
The Group has continued to deliver growth in the year to date, with revenue and profit for the six months to 30 June 2023 expected to be ahead of the comparable period in the prior year.
Facilisgroup: providing a digital commerce platform for promotional products businesses in North America
The positive financial trajectory of Facilisgroup continues as we progress our ambitions for the business and, in the year to date, Gross Merchandise Value and Preferred Supplier purchases are ahead of the same prior year period.
Our progress remains aligned with our strategy which is to scale Facilisgroup revenues through gaining market share and to introduce further technology products that widen our addressable customer numbers. By the end of FY 23, we expect to have developed technology that offers both order workflow and ecommerce solutions to the entire market of around 20,000 businesses and $25bn of product sales. Therefore, from FY 24 we expect to be on a decreasing trend of capital investment.
Brand Addition: providing promotional products and related services under contract to many of the world's most recognisable brands
Brand Addition's order intake in the year to date has been robust. We believe our target market, of large international organisations, continues to trend towards closer control of the quality, provenance and global consistency of their brands when utilising promotional products. This supports a deepening of our relationships with existing clients and an increased opportunity for Brand Addition to attract new client contracts. We continue to invest in our people and infrastructure, to deliver on clients' increasingly complex needs and the opportunities this presents as we further differentiate our market position.
Operationally, our supply chain is well-controlled, and the gross margins achieved to date in FY23 are ahead of those achieved in FY 22.
The Board remains ambitious for both Facilisgroup and Brand Addition and we continue to execute on our stated strategies for our businesses.
We intend to issue the Group's HY 23 Results on 5 September 2023.
About The Pebble Group plc - 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.
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SOURCE: The Pebble Group PLC
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