The Pebble Group: Edison
TMT: Media – AIM – M cap £65m – Price 40.00p – Update
THE PEBBLE GROUP
Well placed for market improvement
The FY24 results were broadly in line with January’s trading update, with revenue up 1% and a nudge up in gross and adjusted EBITDA margins. This was achieved despite difficult underlying trading conditions, with corporate confidence fragile. In these circumstances, delivering genuine value and support to customers is key. Pebble’s CEO has been hands-on, appraising the business strengths and opportunities in Facilisgroup, the North American SaaS business that now generates 45% of adjusted EBITDA, pre-central costs. With the major capital spend programme here now finished, Pebble can concentrate on reinvesting its strengthening cash conversion to supporting top-line growth.
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