Pebble, the leading automation, content management, and integrated channel specialist, has announced a strong set of financials for the year end 2020 and an encouraging uptake in orders for Q1 2021.
While revenues understandably took a hit, down 25% over 2019, Q1 orders are up 86% on the same period the previous year. Meanwhile, net profit, cash generation, revenue from support contracts, and gross margin all remained strong during 2020. This allowed the company to continue to pursue the successful R&D strategy that saw it launch its new digital platform Oceans, as well as to invest in the industry expertise required to deliver it, and continue to support its extensive global user base. It was also able to reduce its long-term bank debt by a further £1m.
I am immensely proud with the way that our company delivered excellent results during a difficult period, comments Peter Mayhead, Chief Executive Officer of Pebble Beach Systems Group plc. 2020 was a challenging year for all, yet our commitment to delivering on our annual plan in line with our company's values enabled us to weather the storm without reduction in our technology investment. We look forward to 2021 with a high level of optimism as we continue to launch new applications to the market, broadening our suite of cutting-edge, fully integrated, and scalable capabilities.
John Varney, Non-Executive Chairman of Pebble Beach Systems Group plc, said: Coupled with the technology enhancements we were able to progress in 2020, the year also saw the resilience of our operating model being demonstrated. Our employees made a seamless transition to home working, continuing to be highly productive in meeting our customers' needs. Our level of service and solutions delivery ensured that all staff were fully engaged throughout the year and no redundancies were considered. Additionally, we had no requirement to make use of the Government furlough schemes. These facts demonstrate the underlying strength of the Group.
### ENDS ###
About Pebble
At Pebble we understand that efficiency, reliability and sustainability are vital for playout operations, and we know that interoperability with multiple vendors, standards and technologies is key. As a world leader in automation, integrated, IP and virtualised playout technology, with systems installed in more than 70 countries worldwide and over 1500 channels played out under Pebble automation control, we have the people, the process, and the technology that the broadcast market needs as it changes and adapts to compete with new entrants in the video media space.
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Pebble, the leading automation, content management, and integrated channel specialist, has announced a strong set of financials for the year end 2020 and an encouraging uptake in orders for Q1 2021.
