16th Sep 2020 14:31
Pebble Group PLC - Manchester-based promotional products-focused software firm - Swings to profit for first half of 2020 due to fall in operating costs. Pretax profit totalled GBP593,000 versus a GBP3.6 million loss in the prior year period. Revenue fell 30% year-on-year to GBP33.6 million from GBP48.1 million. Operating expenses GBP12.7 million, down from GBP17.6 million. Believes paying a dividend will be inappropriate in light of the Covid-19 pandemic, adding it will review its position in 2021. Predicts re-emergence of sales demand through 2021 in line with 2019 levels.
Current stock price: 81.25 pence
Year-to-date change: down 42%
By Ife Taiwo; [email protected]
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