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Pebble Beach Systems Group PLC on Wednesday said its revenue and pipeline have grown during a ‘robust’ half year, and proclaimed confidence ahead of its half year results. The Weybridge, England-based company, which provides playout automation, content management and IP control software for broadcasters and streaming services, expects to announce the interim results in August. Pebble Beach said it expects to report about £5.5 million in revenue for the first half of 2023, up from £5.0 million for the same period in 2022. Orders were ‘marginally down’ to £4.4 million from £5 million ‘with continued economic nervousness causing some clients to defer non-essential spend’. However, Pebble Beach also reported pipeline growth and said its ‘strong order book’ for 2022 was still reflected in its recent ‘robust performance’. ‘Despite this, our pipeline for the remainder of the year remains very encouraging, giving the board confidence that orders will increase in H2,’ Pebble Beach commented. ‘That confidence is further strengthened following a competitor’s announcement to end-of-life a number of their solutions, thereby creating a greater market opportunity for our technology and product offering.’ Pebble Beach also said its earnings before interest, tax, depreciation and amortisation margin was ‘slightly down’ to 23% from 26%; it will aim for a 30% margin for the full year. Net debt was down 18% to about £5.1 million at June 30 from £6.3 million on the same date in 2022. ‘The board are pleased with the group’s H1 performance in the face of ongoing difficult market and economic conditions,’ Pebble Beach continued. ‘In line with previous years, the board expects a stronger second half to the year with further progress being made in revenue and Ebitda growth in the period.’ Shares in Pebble Beach were up 1.3% at 6.33 pence on Wednesday in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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