Stretford-based corporate promotions specialist Pebble Group saw revenues fall 30% in the first half of the year but is seeing signs of recovery as lockdown eases.<\/p>\n
Pebble Group provides promotional products and services through two businesses – merchandise business Brand Addition and SaaS [software as a service] business Facilisgroup.<\/p>\n
Brand Addition, which accounted for nearly 90% of the group’s revenues a year ago, had a tough first six months. Revenues were down \u00a315m, to \u00a328.5m, and it relied on the furlough scheme and temporary pay cuts to reduce costs.<\/p>\n
However Facilisgroup, which it acquired in December 2018, grew its revenues by 10%, to \u00a35.1m. It has also continued to expand its partner network, which is a key driver of sales.<\/p>\n
“The board feels positive about the trajectory of the recovery at Brand Addition, and the strength of Facilisgroup,” said chief executive Christopher Lee.<\/p>\n
“Whilst we do not expect a significant return of conferences or events until at least H2 2021, the current sales trend and the contracted, long-term nature of our client relationships give us confidence in the re-emergence of sales demand through 2021, where we are targeting a return towards 2019 levels.”<\/p>\n
Pebble Group has had an interesting first year on the Alternative Investment Market after it floated last December at 105p-per-share. It quickly rose to nearly 160p in February, before losing more than half its value as the market fell in the early stages of the coronavirus crisis.<\/p>\n
It bounced back to 115p in July before falling back to close last night at 92p, giving the business a market value of \u00a3155m.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revenues fell 30% at AIM-listed business<\/p>\n","protected":false},"author":18,"featured_media":2058259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"coauthors":[81],"class_list":["post-2066599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-featured-story"],"yoast_head":"\n