PIWORLD Investor Podcasts

The Pebble Group CEO, Chris Lee and CFO, Claire Thomson, present the group's results for the year ended 31 December 2025, followed by a Q&A session.Chris Lee, CEO00:16 Introduction01:18 Market Opportunity02:23 Investment Case03:41 FY25 HighlightsClaire Thomson, CFO05:23 FY25 KPI's06:14 Revenue06:43 Income Statement07:41 Balance Sheet08:08 Cash Flow08:34 Cash GenerationChris Lee, CEO09:14 Facilisgroup - Overview10:44 Facilisgroup - Key Financial & Operational Metrics11:14 Facilisgroup - Organic growth14:33 Facilisgroup - Partner Numbers15:45 Facilisgroup - StrategyClaire Thomson, CFO16:20 Brand Addition - Overview17:13 Brand Addition - Key Financial & Operational Metrics17:54 Brand Addition - EBITDA18:28 Brand Addition - New Business Acceleration19:01 Brand Addition - StrategyChris Lee, CEO19:40 ESG20:45 Outlook22:00 Q&AThe Pebble Group is a provider of technology, products, and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market.Facilisgroup: Providing an end-to-end order processing system, combined with a proprietary operating method, market network and community support to growth orientated promotional products distributors in North AmericaBrand Addition: An end-to-end creative branded merchandise agency that helps global brands build culture, awareness and meaningful connections with their customers, employees and communities

DF Capital CEO, Carl D’Ammassa provides an overview of the company’s results for the year ended 31 December 2025.Carl D’Ammassa, CEO00:16 Introduction01:02 FY 2025 Overview05:20 Strategy Update06:44 Looking Ahead.DF Capital is a speciality lender providing flexible financing solutions that support the sales and growth of manufacturers, dealers and distributors operating in attractive underserved retail markets across the UK. As a bank, DF Capital’s lending is underpinned by its award-winning savings products, straightforward digital platform, and exceptional customer service.

Progressive's Jeremy McKeown and Gareth Evans discuss the ongoing challenges emanating from the Middle East. Unlike last year's tariff news, where the Trump Always Chickens Out (TACO) trade often won out, it takes two to TACO in a war like this - and Iran so far is not helping.Markets have been stung, although the US Dollar is once again the "safe haven" asset, making the inflationary impact worse for non-USA countries.  Those inflationary risks abound, and the independence of central banks in this critical period will once again be an issue.Equity markets appear to be less worried than bond investors, although this could change, depending crucially on how long the current impasse persists in the all-important Strait of Hormuz.When the oil price is more volatile than bitcoin, you know we're in interesting times...

Secure Trust Bank CEO Ian Corfield and CFO Rachel Lawrence present the group's 2025 Annual Results, followed by an investor update outlining the group's strategy and medium-term targets, with leaders of the business divisions providing an overview of their strategies. 00:00 Opener00:16 Introduction VideoIan Corfield, Chief Executive Officer02:59 Opening remarks & Agenda05:36 2025 Overview08:19 2025 Performance highlightsRachel Lawrence, Chief Financial Officer10:28 2025 Financial ReviewIan Corfield, Chief Executive Officer29:15 2025 Strategic review and outlook32:06 2025 Annual Results Presentation Q&AIan Corfield, Chief Executive Officer37:01 Group overview and strategyRachel Lawrence, Chief Financial Officer49:44 Capital Allocation and Cost ManagementAndy Phillips, Managing Director, V12 Retail Finance58:03 Divisional Spotlight - V12 Retail FinanceLuke Jooste, Managing Director, Business Finance1:14:11 Divisional Spotlight - Business FinanceRajat Mehta, Savings Director1:28:27 Divisional Spotlight - SavingsIan Corfield, Chief Executive Officer1:34:54 Concluding remarks01:38:21 Investor Update Q&AFounded over 70 years ago, Secure Trust Bank is a leading retail deposit-funded specialist bank operating in four core markets: retail finance, vehicle finance, real estate finance and commercial finance. Secure Trust Bank’s management has simplified the business through the sale/exit of non-core businesses, repositioning the loan portfolio towards lower risk loans and focusing on reducing operating costs to drive efficiency (Project Fusion).

Secure Trust Bank CEO, Ian Corfield, provides an overview of the group's latest investor update event, outlining the business's current position, the group's updated medium-term targets and the revised strategy. Analysts also comment on the event and provide their views on the day's presentations.Founded over 70 years ago, Secure Trust Bank is a leading retail deposit-funded specialist bank operating in four core markets: retail finance, vehicle finance, real estate finance and commercial finance. Secure Trust Bank’s management has simplified the business through the sale/exit of non-core businesses, repositioning the loan portfolio towards lower risk loans and focusing on reducing operating costs to drive efficiency (Project Fusion).

This week, Progressive's Jeremy McKeown and Gareth Evans discuss the obvious (and only) story that really matters - the US and Israeli attacks on Iran.What is obvious is that America's "complete control of the airspace" has not resulted in reopening the Strait of Hormuz - small Iranian missiles and drones remain a problem.  Less obvious is that America's "no limits on availability of munitions" presumably leaves Ukraine's supply at risk, and Taiwan less protected.  Oil prices are up by 25-30%, and inflation will follow unless this is very short-lived.  Bond yields are rising globally.  A regime-changed Iran (with free-flowing cheap oil for the world) would be a wonderful outcome, but is currently very far from assured. Jeremy explains the importance of Kharg Island...let's hope it stays out of the headlines.

Progressive's George O'Connor and Ian Robertson consider the Saint Valentine’s day tech massacre. In face of the carnage, we take a step back and remember that writing software is only part of the story.  You need to plan, develop, test, sell and maintain. AI is untested in customer support for AI and much else besides.We have flashbacks to when Open Source became a thing and look to the SaaS transition and lessons learned and not learned.There is value amongst these hard-hit tech software stocks, but survival and growth in the face of AI is more than about having embedded products.  It’s also about the company structure and culture, and scarily for UK investors, its code base too.We consider the realignment of earnings multiples. After over a decade of analysts and investors assuming SaaS revenues go on forever, it’s now increasingly obvious that many software companies can and will die, and it might be messy.

Progressive's George O'Connor and Ian Robertson take comfort from FY25 trading updates but look forward to a year in which reality may bite back.Trading updates from Raspberry Pi, and news flow from Intel and Samsung, remind us that things rarely happen as smoothly or as predictably in real-world tech as is hoped, particularly in semiconductors.Computacenter’s update has confirmed George’s view on hardware sales and serves as another illustration that cash flow matters and should not be taken for granted.Looking to the US, the traditional SaaS stocks are underperforming, dragged down by the question of what AI does to them and, importantly, software pricing. No sign of the market asking these fundamental questions of the UK stocks just yet.

The Market Call returns to analyse market volatility, geopolitical tensions, and the impact of the Trump administration on the global economy and markets.Jeremy and Gareth explore U.S. GDP hitting 4.4%, and a historic precious metals boom with gold nearing $5,000 and silver approaching $100 an ounce. Discover key insights on the U.S. real economy, bond yields, and six critical investment themes for the year ahead, including the Space Economy, Robotics, and the "Great Rotation" of capital.Key Topics & Highlights:Geopolitics & Trump 2.0: Analysis of the Trump administration's aggressive stances toward NATO and Europe, and its impact on global relations.Market Volatility: How the "Davos circus" and recent fears have driven investors into a risk-off mode, with strategies for navigating the uncertainty.The Commodities Boom: Discussion on the dramatic ascent of precious metals, driven by a weakening dollar and rising geopolitical insurance premiums.The Inflation vs. Growth Debate: An exploration of a hot U.S. economy (near 5% growth) versus moderating Western consumer price inflation, and its bond market implications.Six Themes for ’26: A breakdown of top investment themes for the year:Robotics and Autonomous Driving.The Space Economy.The Rise of the Chinese Consumer.Healthcare Catch-up.Energy will join the Commodities Party.The Ongoing "Great Rotation" (Capital moving from Dollar assets/Treasuries to gold and other geographies).

Is silver's price spike a bubble, or an early warning of government confiscation for AI data centres and military needs? Craig Tindale, Australian investor and essayist, argues the West has lost touch with the physical economy — and national capitalism is our only path back.In this episode:• Why Craig sees silver regulation or confiscation coming, or where we rip out solar panels for their silver content.• How Western policy has detached from real-world physics• Lessons from 40 years of upgrading Asian manufacturing, banks & central banks• Why “national capitalism” is the West’s last hope• The real economic operating system we’ve forgotten