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Pebble full-year results on track as Facilisgroup delivers 'robust' performance
StockMarketWire.com
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Marketing services group Pebble has reported it is on track to deliver full-year results in line with expectations as its business Facilisgroup performed 'robustly' through the pandemic and Brand Addition has seen improved sales order patterns since September.
In a trading update since its half-year results on 16 September, Pebble said Facilisgroup had continued to perform 'robustly' throughout the Covid-19 pandemic, with its partners (customers) having increased to 169, up from 149 at 31 December 2019, with a further six contracted and awaiting implementation.
The business has maintained a near 100% partner retention rate since Covid-19 impacted in March 2020.
Pebble said that the gross merchandise value processed by partners through the Facilisgroup technology platform is expected to be approximately $1 billion in 2020, while sales order patterns of partners are returning to pre-pandemic average order values and order numbers, in contrast to Q2 2020 which included large PPE sales.
In its business Brand Addition, it reported continued improvement in sales order patterns since its last update in September.
It confirmed that two major new clients, secured in the first quarter of this year, have been successfully launched and are beginning to contribute to full-year 2020 revenue with a material contribution expected in 2021.
To date in the second half of 2020, sales orders have averaged above 70% of the prior year, 'with current activity indicating positive momentum into 2021'.
Pebble said: 'Facilisgroup continues to deliver in line with expectations and we are actively seeking opportunities to build on this success by strengthening its services organically and through acquisition.'
At 8:56am: (LON:PEBB) The Pebble Group PLC share price was 0p at 83.5p
Story provided by StockMarketWire.com
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