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Pebble Beach Systems Group PLC - Surrey, England-based software company - Expects to report results for the year ended December that are below market guidance. Predicts 2024 revenue of around £11.5 million and adjusted earnings before interest, tax, depreciation and amortisation of £3.3 million. This is down from £12.4 million and £3.8 million a year prior, and below a company compiled consensus of £13..4 million and £4.1 million respectively. Blames extended conversion times for project orders with customers delaying decisions on investing in new systems. Notes project orders in the period were down 2%, 35% of which were booked in December. More positively, highlights ‘significant’ increase in recurring revenue, up 17% to £6.1 million from £5.2 million. Gross bank debt at December 31 was £4.6 million down from £5.6 million. In response to weaker trading, Pebble Beach plans to scale back R&D at Prima - an IP native technology platform targeted at broadcasters. As a result, the company anticipates a ‘significant’ reduction of the existing cost base. Estimates annualised cash savings of around £2 million and as a result, expects sustainable free cash inflows should also increase materially in 2025 and beyond. Current stock price: 9.00 pence, down 7.8% in London on Tuesday 12-month change: up 13% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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