The Pebble Group PLC (AIM:PEBB) shares were sent 25% lower on Wednesday morning in response to the digital commerce company’s full-year trading update.
The company admitted that order intake at Brand Addition had been lower than anticipated and has therefore reported a reduction in anticipated full-year revenues.
Pebble Group expects the gross merchandise value transacted through its technology by customers to be approximately $1.4 billion (£1.2 billion) for the year, slightly ahead of 2022 results.
“This reflects a more challenging economic environment in the second half of the year and consequently the proportion of our income, based on in-year Partner activity, has impacted our overall rate of growth in 2023,” Pebble Group stated.
Shares were swapping for 64p at the time of writing.