Source - Alliance News

Pebble Beach Systems Group PLC - Weybridge, England-based provider of content management software for broadcasters and video streaming services - Posts revenue of £11.2 million for 2022, up 5.7% from £10.6 million in 2021. Says recurring revenue represents 41% of total revenue, which ‘provides good visibility of future years’ forecasts’. Pretax profit, however, falls by 20% to £1.2 million from £1.5 million, as sales & marketing expenses increase to £2.2 million from £1.8 million the year earlier. Order intake stands at £11.3 million at year-end, down from £13.7 million a year earlier. Looking ahead, Pebble Beach says it has started 2023 in line with expectations.

Non-Executive Chair John Varney says: ‘Given the strength of our order book as we exited 2022, and how we have traded in the first quarter of the current financial year, we look forward to continuing the progress being made by the group.’

Current stock price: 7.13 pence each, down 11% on Wednesday afternoon in London.

12-month change: down 45%

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