Share Prices & Company Research

Market News

23 Mar 2021 | 09:04

Pebble Group safely navigates 'challenges of 2020'

(Sharecast News) - Promotional technology provider Pebble Group said on Tuesday that the "challenges of 2020" had been "safely navigated" despite posting annual declines on both the top and bottom lines on an adjusted basis. Pebble said revenues had slumped 23.1% to £82.4m, while gross profits were down 22.6% at £31.0m, adjusted underlying earnings were 35.5% lower at £9.8m and adjusted pre-tax profits were 19.7% weaker at £6.1m.

Despite all this, earnings per share actually improved from 2.81p to 2.96p as the group swung to an operating profit of £5.7m and a pre-tax profit of £5.0m on a statutory basis - a marked turnaround compared to the prior year's statutory losses of £10.6m and £15.3m, respectively.

Pebble said it also believes its "differentiated market positions and strategies" would continue to provide it with "significant opportunities for growth", with the new financial year starting "well", with all areas of the business performing in line with management expectations and the board viewing prospects for the group with confidence.

Chairman Richard Law said: "Although our financial performance was impacted significantly in the first half of the year by Covid-19, the situation improved, through good management and improving markets, from the start of the second half of the year and gaining momentum in the final quarter."

As of 0900 GMT, Pebble shares were up 6.67% at 144.0p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.