Media - Mcap: £113m - Price: 67.5p - Update
The Pebble Group (PEBB)
Positioned to benefit from re-emerging confidence
The Pebble Group’s FY23 results were as previously flagged. Facilisgroup, Pebble’s digital commerce segment, grew FY23 revenues by 8% after an H2 slowdown in gross merchandise value (GMV) for its partners affected revenue earned from its preferred supplier base. At Brand Addition, selling into large, global brands, revenue from tech and consumer clients trailed FY22. Both group segments are well placed to benefit from rebuilding corporate assurance and continued investment, although precise timing is uncertain. Pebble has considerable financial resource, with £15.9m in net cash (excluding leases) at end FY23. Management is proposing a doubled dividend of 1.2p and a £5.0m share buyback to enhance shareholder value.
Analyst
Fiona Orford-Williams
Media analyst
media@edisongroup.com