30th Jan 2020 11:29
(Alliance News) - Shares rose in Pebble Beach Systems Group PLC on Thursday as it guided for a strong increase in earnings and revenue for 2019.
Shares in the the Weybridge-based playout software firm were 16% higher at 7.38 pence on Thursday in London.
Playout is the transmission of radio of television channels, which can be converted or edited for external use during broadcasting.
For the year, Pebble Beach expects to report adjusted earnings before interest, taxes, depreciation and amortisation at GBP3.5 million, up 40% from GBP2.5 million the year before. This is on revenue that is set to grow by 22% year-on-year to GBP11.2 million from GBP9.2 million.
In particular, the group said it benefited from securing an order worth GBP600,000 from IMG Studios, for the use of Pebble Beach's ultra high definition-capable playout servers and control software, for the coverage of Premiership football matches in December.
Looking ahead, Pebble Beach said it expects to build further on its strong market position, and deliver against its turnaround plan first set out in 2018.
"The efforts of the executive team and staff over the last two years have delivered a stronger, more dynamic company that now has a proven track record in delivering its strategy. We are excited by the opportunities being presented in 2020 as the broadcast industry continues to transition to IP and cloud-based workflows," said Non-Executive Chair John Varney.
Pebble Beach will publish its annual results in late March.
By Dayo Laniyan; [email protected]
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