Pebble Reports Strong Set Of Results For H1 2021

Pebble has reported an impressive set of figures for H1 2021 that point the way to continued, sustainable growth.

All key financial metrics are up over the Covid-impacted 2020, including revenue, pre-tax profits, and net cash, while net debt is down over £1.1 million. There are encouraging signs that this is only the start of a new cycle of growth too, as order intake is up by 64% compared to the same period in 2020, and significant orders have been won so far this year from companies such as ORF, CJP, 1+1 Media, and TV 2 Denmark. The company also reported a sales pipeline which was up 40% in comparison to the same period in pre-Covid 2019.

Meanwhile, Pebble has continued to invest in further developing its technology. The capabilities of the Pebble Control IP connection management solution have been further enhanced, the continued development of the Oceans platform has proceeded according to an accelerated schedule, and the company is seeing the benefit of a strategic move to a fully remote operating model delivering operational benefits in terms of resilience, organisational growth, and performance.

"The industry as a whole still faces multiple challenges, but I am extremely pleased with the positive way that we have responded as a company to the evolving market conditions," commented Peter Mayhead, Chief Executive Officer of Pebble Beach Systems Group plc. "The delays in customer order placements that were experienced in H2 2020 have eased significantly during the course of this year, and we are well positioned to sustain performance into H2 2021 and beyond. Indeed, we are actively considering ways in which to further accelerate our growth."

John Varney, Non-Executive Chairman of Pebble Beach Systems Group plc, said: "The Group has clearly delivered an excellent performance for the first half of 2021. These results, and our continued investment in new software solutions, coupled with our new remote operating model, has demonstrated that we are correct to have confidence in our ability to continue to grow this year and to take that momentum into 2022."

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