28th Apr 2021 13:58
Pebble Beach Systems Group PLC - Surrey-based software company specialising in playout automation and content management solutions - Says orders are up 86% to GBP4.0 million in the first quarter of 2021, compared to GBP2.2 million a year prior, in an "encouraging uptake in activity". It fared less well in 2020, saying customers had been slow to make spending decisions due to Covid-19. Annual revenue dropped 33% to GBP8.4 million from GBP11.2 million. Pretax profit fell a less steep 18% to GBP1.1 million from GBP1.3 million due to cost savings.
Pebble Beach says it has a strong pipeline of growing work which "reflects the market opportunity for our technology".
Chief Executive Peter Mayhead says: "2020 was a challenging year for all, yet our commitment to delivering on our annual plan in line with our company's values enabled us to weather the storm without the need for staff furlough, redundancies, or reduction in our technology investment. We look forward to 2021 with a high level of optimism as we continue to launch new applications to the market, broadening our suite of cutting-edge, fully integrated, and scalable capabilities.
Current stock price: 10.00 pence, up 11%
Year-to-date change: down 2.4%
By Will Paige; [email protected]
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