19th Jan 2021 10:52
(Alliance News) - Shares rose in The Pebble Group PLC on Tuesday as it guided for 2020 earnings to be ahead of market expectations, following continued positive momentum from the third quarter.
Shares in the Manchester-based technology and services provider for promotional products were 11% higher at 132.95 pence on Tuesday in London.
For the year, adjusted earnings before interest, tax, depreciation and amortisation is expected to be no less than GBP9.5 million, ahead of expectations but down 37% year-on-year from GBP15.2 million the year before.
Looking ahead, Pebble said it has entered the new year with its major clients and partners intact, a strong balance sheet, and is looking to use the acquisition of US software developer CorXpand LLC to support the capabilities of subsidiary Facilisgroup.
"In a year that brought so much uncertainty, the teams across our businesses in Europe, North America and Asia showed great care for each other, our clients and suppliers, and the group's long-term success. The board's thanks go to everyone in the business for their unwavering commitment and support," the group said.
By Dayo Laniyan; [email protected]
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