Pebble Beach backs upgraded outlook as profit climbs in first half
Pebble Beach Systems Group PLC on Wednesday expressed confidence in its second-half sales pipeline, as it backed its upgraded full-year guidance amid revenue and profit gains.
The Surrey, England-based software company said pretax profit jumped 58% to £465,00 in the six months that ended June 30 from £294,000 a year earlier.
The company’s bottom line was boosted by a mix of revenue gains and lower costs, as its top line advanced 12% to £5.91 million from £5.26 million, in line with its expectations given late last month.
Back in July, Pebble Beach Systems attributed the improved revenue to the timing of project order intake, coupled with ‘continued growth’ in service level agreement revenue.
Service level agreement revenue improved 6.5% to £3.3 million from £3.1 million, with project revenue advancing 18% to £2.6 million from £2.2 million.
In July, the company also said it expects 2025 and 2026 profitability ‘materially ahead’ of market expectations.
Pebble Beach cited a company-compiled consensus for revenue of £11.5 million and adjusted earnings before interest, tax, depreciation and amortisation of £3.5 million for 2025 and 2026.
On current trading, Pebble Beach said its weighted value pipeline remains strong at £10.6 million, improving on last year’s figure of £9.8 million. It added that ‘good visibility over full year project revenue will reduce the pressure typically experienced during Q4 to deliver full year market expectations.’
Shares in the company were 5.5% higher at 14.78 pence on Wednesday afternoon in London.
‘With the group entering H2 2025 with a solid sales pipeline along with improved visibility of future recurring revenues, the board remains confident in delivering against its recently upgraded market expectations for the year,’ said Non-Executive Chair John Varney.
‘Given these encouraging results, as previously reported, the board remains focused on driving further organic growth complemented by inorganic growth, when appropriate’.
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