Business
Update on trading and strategic review
Update on trading and strategic review.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 0691Y Pebble Beach Systems Group PLC 01 December 2017 \n\nPebble Beach Systems Group plc (the \"Company\" or the \"Group\")\n \nStrategic Review and Trading Update\n \n \nPebble Beach Systems Group plc, a leading global software business specialising in solutions for playout automation, and content serving customers in the broadcast markets, announces an update on the progress of the Company's Strategic Review and current trading.\n \nTrading Update\n \nFollowing on from the sale of the Group's hardware business, Vislink Communications Systems, in February 2017 the refocused Group has received orders in the year to date of £8.3m versus £6.9m in the comparable period in 2016. The Group expects order intake for the full year to be below last year due to an exceptionally large order being received late in 2016, which hasn't been repeated in 2017.\n \nThe Group is expected to report FY17 continuing operations revenues slightly below FY16. The profile of orders received has changed from fewer large projects in FY16 to a higher number of smaller projects this year.\n \nHowever, orders of a material size have been received from Russia which represents a new territory for the business and is a promising development for the Group.\n \nIn June 2017 global playout and media services company DMC, a TVT company, launched the first fully-IP virtualised playout platform in Europe. This platform is based on the Company's Orca product and the successful deployment strengthens its position at the forefront of IP based broadcast automation. This is important for future growth as the broadcast market looks to exploit the potential flexibility of IP based infrastructures.\n \nUpdate on Strategic Review and Formal Sale Process (\"FSP\")\n \nOn 23 February 2017, the Company announced that following the disposal of VCS, a strategic review and FSP had been initiated to consider options available to reduce the Company's outstanding debt and maximise value for shareholders, including the possibility of a sale of the Group.\n \nDuring the course of the FSP the Company engaged with a number of interested parties. These discussions did not result in an offer which was considered by the board to reflect the value of the Group's operations and as the Company is not currently in dial...