21st Mar 2023 12:40
(Alliance News) - Pebble Group PLC shares jumped on Tuesday, after it declared its first dividend on some strong annual results.
Shares in the Manchester, England-based technology and services provider were up 7.3% to 117.00 pence each in London on Tuesday afternoon.
Pebble reported revenue of GBP134.0 million in 2021, up 16% annually from GBP115.1 million.
Of this, annual recurring revenue jumped to GBP15.5 million from GBP12.2 million. This revenue was all derived from the company's Syncore product. Syncore is an "established order workflow product", according to Pebble.
Pretax profit rose 4.1% to GBP9.7 million from GBP9.3 million.
Pebble declared a final dividend of 0.6 pence. In 2021, it paid no dividend.
Looking ahead, Pebble said that the new financial year has started well, and it is performing in line with the company's expectations. Pebble added that its investment in 2022 provides the opportunity for further growth during 2023.
"We remain disciplined in our growth strategies and positive in the belief of achieving our aspirational goals," Pebble said.
By Sophie Rose, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
The Pebble Gro.