StockMarketWire.com - Broadcast and streaming software group Pebble Beach Systems posted a flat first-half profit after falling revenue was offset by lower expenses.

Pre-tax profit for the six months through June was unchanged on-year at £0.7m, even as revenue fell to £4.5m, down from £5.6m.

'Despite the very challenging global environment, the company continues to operate at full capacity, and we remain confident on the long-term growth opportunities for the company,' chairman John Varney said.

'We continue to trade profitably and maintain our budgeted investment into new technology as we continue to innovate our suite of products.'

'Given the circumstances created by Covid-19, it is not a surprise that order intake in the period was lower than we had originally anticipated principally as a result of customer orders being delayed.'

'Given the impact of Covid-19, customers have been understandably cautious about commitments to implement larger scale projects.'

'As a board we believe that this is merely delaying planned large scale projects rather than these potential contracts being lost.'

'We are not seeing evidence of the business being impacted by the widely reported delays to content creation in the broadcast market, and our technology is in the content delivery chain rather than that of content creation.'

'These factors, combined with the continued growth in our pipeline, means that the board remains confident on the company's market positioning and long-term opportunities.'






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