7th Aug 2018 12:11
LONDON (Alliance News) - Pebble Beach Systems Group PLC on Tuesday said its revenue declined significantly in the first half of 2018, but it is confident of improvements in the reminder of the year.
The stock was trading 5.6% lower on Tuesday at 3.54 pence per share.
The software company said it expects revenue for the six months to the end of June at GBP3.9 million, down from GBP4.6 million reported a year earlier, due to delayed timing of order intake in the period.
However, Pebble Beach Systems said it is confident of improvements in the second half of 2018, with an increased backlog of GBP4.7 million and a growing pipeline. As a result, the company said it expects full-year revenue to come in marginally lower year-on-year.
"The company fully expects to deliver improved profitability as a direct result of the restructure undertaken throughout 2017 and the first-half of 2018," Pebble Beach Systems said in its statement.
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