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Pebble Beach Systems profit falls as pandemic hurts sales
StockMarketWire.com
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Broadcast and streaming software group Pebble Beach Systems posted an 18% fall in annual profit as the pandemic hurt sales.
Pre-tax profit for the year through December decreased to £1.10 million, down from £1.33 million year-on-year, as revenue fell 25% to £8.39 million.
Pebble Beach said customers were slow to make investment decisions, impacting orders and revenue.
It had seen 'encouraging' uptake in activity in the first quarter of 2021, with orders up 86% year-on-year.
'2020 was a challenging year for all, yet our commitment to delivering on our annual plan in line with our company's values enabled us to weather the storm without the need for staff furlough, redundancies, or reduction in our technology investment,' chief executive Peter Mayhead said.
'We look forward to 2021 with a high level of optimism as we continue to launch new applications to the market, broadening our suite of cutting-edge, fully integrated, and scalable capabilities.'
At 9:52am: (LON:PEB) Pebble Beach Systems Group Plc share price was 0p at 9.75p
Story provided by StockMarketWire.com
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