Shares of promotional products software firm Pebble Group (LON: PEBB) are climbing on Monday after the company said it now expects its full year's results ended 31 December 2020 will be ahead of market expectations.
The Manchester-based business’ positive 2020 third quarter continued into the final quarter of the year, revealing that it predicts its adjusted EBITDA will be no less than £9.5million.
Pebble’s cash generation in Q4 was strong, with net cash at the end of December being £7.1m, after an outflow of £2.7m when acquiring software assets.
“Concentration on our clients, culture and cash enabled the Group to navigate its way through an unprecedented and challenging 2020. We enter the new financial year with all major clients and Partners intact, a strong balance sheet, a highly motivated team and having acquired some strategically important software assets, funded through Group cash flows, which accelerates the eCommerce capabilities of Facilisgroup,” Pebble Group said in its statement.
The group said it is looking to build on its Q4 sales recovery at its Brand Addition subsidiary and use the software acquisition in December 2020 to further strengthen the eCommerce platform capabilities at Facilisgroup.
Pebble Groups shares rose to highs of 330p following the news. They are currently trading at the 300p level, up 9.18%.