28th Mar 2019 11:08
LONDON (Alliance News) - Pebble Beach Systems Group PLC on Thursday reported a narrowed annual loss, as results came in ahead of management expectations.
Pebble Beach shares were trading 10% higher at 6.35 pence each.
For 2018, the software provider to the broadcast market posted a pretax loss of GBP472,000 compared to a GBP2.7 million loss in the year ago period.
Revenue reduced to GBP9.2 million from GBP10.3 million, but administrative expenses and research costs fell by 33% and 31%, respectively.
Meanwhile, order intake was above the previous year at GBP10.8 million compared to GBP10.5 million.
Looking ahead, the company said it expects to further improve its financial position, as broadcasters invest to take advantages of increasing audience numbers and advertising spend.
"This is an exciting time for Pebble Beach Systems as the broadcast industry adapts to the opportunities presented by the expansion in audience and platforms, underpinned by strong continuing growth in advertising revenues. Pebble Beach Systems is now well-positioned to deliver solutions to the global broadcast market as it invests in channel and content delivery infrastructure and systems," Chair John Varney said.
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