Pebble Group

LN: PEBB

Market Cap£159m

Last Close 95p

The Pebble Group provides digital commerce, products and services to the global promotional products industry. It consists of two complementary and differentiated businesses: Brand Addition, which designs, sources and delivers promotional merchandise and branded products for global brands; and Facilisgroup, which provides subscription-based SaaS technology and services to SME distributors in the promotional products market in North America.

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Investment summary

The Pebble Group’s H122 update confirms that it is carving out a strong position in the very large and fragmented global promotional products industry, estimated to be worth €50bn. Facilisgroup (Pebble’s SaaS business supporting promotional products for SMEs in North America) is building its recurring revenue base and benefiting from good underlying demand, boosted by currency translation. Brand Addition, supporting global brands with promotional products, saw significant volume uplifts from new business and existing customers in both 2020 and 2021. Management indicates that FY22 figures will exceed current guidance and we expect consensus forecasts to rise, to an extent tempered by some caution over the economic backdrop.

Content on Pebble Group
Pebble Group – Strong H122 lifts full-year prospects
TMT | research QuickView | 19 July 2022
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Share price graph
Price performance
%
1m
3m
12m
Actual (7.3) (20.8) (38.7)
Relative* (9.3) (19.3) (39.5)
52-week high/low 160.0p/90.0p
*% relative to local index
Key management
Christopher Lee CEO
Claire Thomson CFO