Tech firm Pebble Beach Systems is optimistic about the coming year as it reported a “strong sales pipeline” against the backdrop of challenging market conditions. The company, an expert in playout, content management and IP control solutions for the broadcast and media tech sectors, has seen a 21 percent surge in Service Level Agreement (SLA) revenue, climbing to £3.1m from £2.5m in the previous year.
For the half-year ending 30 June 2024, the group’s overall revenue dipped marginally to £5.3m, down from £5.5m in 2023. However, profit before tax for the AIM-listed company rose to £0.3m, an increase from £0.2m, as reported by City AM.
The adjusted EBITDA remained steady at £1.4m. Additionally, an “improved” EBITDA margin of 27 percent was reported, thanks mainly to the rise in SLA revenue.
John Varney, non-executive chairman of Pebble Beach Systems, commented on the results: “The group continues to demonstrate resilience with increased order intake in spite of ongoing challenging external market conditions causing customers to continue delaying decisions on upgrades.”
He further stated that Pebble Beach Systems Group is entering the latter half of the year with a “strong sales pipeline alongside improved visibility and value of recurring revenues.”
Given “historical trends and a strong order book,” Varney expressed the boards anticipation of heightened project orders in the upcoming six months.
Varney stated: “Given the continued momentum being seen by the group, the board is focused on driving further organic growth complemented by inorganic growth, when appropriate, as opportunities to enhance our technology are identified.”
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