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Pebble Beach earnings to fall as sales ebb
StockMarketWire.com
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Broadcast industry software group Pebble Beach Systems said it expected to report a fall in annual earnings as sales were hit during the pandemic.
Adjusted earnings before interest, tax, depreciation and amortisation were seen falling to around £2.6 million, down from £3.8 million year-on-year.
Revenue was expected to fall to around £8.4m million, down from £11.2 million.
'The management team responded quickly to the challenges created by Covid-19 with the business adopting a seamless transition to remote working and implementing cost savings which maintained the group's adjusted EBITDA margin above 30%,' Pebble Beach said.
'The group is pleased to note that during the period it did not take advantage of any government loan or furlough schemes and there were no staff lay-offs.'
'Going into 2021 there continues to be understandable delays in the investment decisions of our customers given Covid-19.'
'However, the group's pipeline remains very strong and we expect to build on the trusted market position Pebble has established.'
At 8:51am: (LON:PEB) Pebble Beach Systems Group Plc share price was 0p at 9.75p
Story provided by StockMarketWire.com
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