Pebble Group maintains consistent trading in year to date

30th Apr 2024 16:48

(Sharecast News) - Promotional products commerce and services specialist the Pebble Group said in a trading update on Tuesday that in the year to date, it had maintained a financial performance consistent with the same period in 2023.

The AIM-traded firm, which was holding its annual general meeting, said trading at Facilisgroup and Brand Addition was on track to meet 2024 full-year market expectations, despite the early stage of the current financial year.

Facilisgroup had seen growth in gross merchandise value and preferred supplier purchases compared to the same period last year, while Brand Addition maintained comparable order levels year to date, with robust gross margins.

The company said it was continuing to pursue its strategic ambitions, making key external appointments to reinforce the management teams at both Facilisgroup and Brand Addition.

Notably, Facilisgroup welcomed its first chief product officer, while Brand Addition appointed a global marketing director.

Furthermore, in alignment with the announcement made on 19 March, the Pebble Group said it had finalised arrangements to start a share buyback programme for a maximum aggregate consideration of £5m.

"Whilst we remain early into the current financial year, trading at Facilisgroup and Brand Addition is progressing in line with the delivery of full-year 2024 market expectations," the board said in its statement.

"The board continues to see attractive opportunities for both Facilisgroup and Brand Addition and we remain focused on executing our plan for 2024 and beyond."

Pebble Group said it would release 2024 half-year results in September.

At 1435 BST, Pebble Group shares were up 5.45% at 58p.

Reporting by Josh White for Sharecast.com.