HY Trading Update and Notice of Results

10 July 2025

THE PEBBLE GROUP PLC

("The Pebble Group", the "Group" or the "Company")

HY Trading Update and Notice of Results

Trading year-to-date remains consistent with FY 25 expectations

Tender offer intended to launch on 21 July, accelerating returns to shareholders

The Pebble Group, a leading provider of technology, products and related services to the global promotional products industry, provides an update on trading for the six months to 30 June 2025 ("HY 25" or the "Period") ahead of its Half Year Results, which will be announced on 9 September 2025.

Trading Update

The Group's Revenue and Adjusted EBITDA for HY 25 is in line with management's expectations despite currency headwinds on the translation of USD:GBP. To date, there has been no significant effect on our revenues from tariffs currently implemented on goods imported into the US, and at this time, our FY 25 forecast remains in line with expectations.

At Facilisgroup, revenue in the Period, in USD (the home currency of the business), is expected to be broadly in line with the six months to 30 June 2024 ("HY 24"). We are pleased with the improved momentum in new Partner (customer) wins following the investments made in 2025 and the operational advancements in 2024 which will drive organic growth. Our key forward-looking indicator of Gross Merchandise Value remains slightly ahead compared to prior year and purchases with our Preferred Suppliers are in line.

At Brand Addition, revenue in the Period is expected to be circa 4% behind prior year. Total order values for H2 2025 are improving on the prior year period with new contract wins expected to deliver incremental revenues for H2 2025.

The Group's working capital cycle remains disciplined and consistent with prior years, with operating cash conversion improving as planned and expected to be above 80% at the FY 25 year-end (FY 24: 68.2%). After incremental cash distributions compared to the prior year through the Dividend and Share Buyback Programme of £2.6m in H1 25, net cash at 30 June 2025 was £6.0m (30 June 2024: Net cash £4.9m, 31 December 2024: Net cash £16.5m).

Tender Offer

The excellent cash generative characteristics of both Facilisgroup and Brand Addition affords the Group the opportunity to continue to support shareholder value creation by returning excess capital whilst continuing to invest in organic growth opportunities. The Group's share buyback programme, completed in June 2025, returned £3.6m to shareholders in the period from 1 May 2024 with the Group now intending to return further capital to shareholders with the launch of a tender offer of up to £6.5m, as announced on 3 June 2025. It is intended that the tender offer will be launched on 21 July 2025, full details of which will be announced on that date.

Outlook and Notice of Results

Whilst we remain cautious about the confidence in the broader macro economy, we believe that trading at both businesses currently supports the delivery of FY 25 market expectations. Momentum is building in new Partner wins at Facilisgroup, and we continue to closely monitor the development of revenues at Brand Addition. We remain confident in the strengths of the Group's businesses to capitalise on the opportunities in the global promotional products market and deliver sustainable earnings growth and shareholder value.

We look forward to providing a further update in our Half Year Results announcement on 9 September 2025.

Enquiries:

The Pebble Group

Chris Lee, Chief Executive Officer

Claire Thomson, Chief Financial Officer

+44 (0) 750 012 4121

Temple Bar Advisory (Financial PR)

Alex Child-Villiers

Alistair de Kare-Silver

+44 (0) 207 183 1190

[email protected] 

Panmure Liberum (Nominated Adviser and Broker)

Edward Mansfield

William King

Gaya Bhatt

+44 (0) 20 3100 2000

About The Pebble Group

The Pebble Group is a provider of technology, products and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market. For further information, please visit www.thepebblegroup.com.