• Wed. Sep 21st, 2022

Training technology firm sitting on platform for growth – Insider Media

ByWikafever

Sep 21, 2022

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A Cheltenham-headquartered training technology specialist believes it is benefitting from being a “leaner, more streamlined organisation” and is now sitting on a platform for growth after narrowing its half-year losses.
In an update to the London Stock Exchange, Pennant International reported revenue for the six months to 30 June 2022 of £6.95m compared to £7.43m during the same period the year before.
Pre-tax losses narrowed from £1.69m to £810,000, while the group moved into the black with an EBITDA of £400,000 against a loss of £700,000 during H1 FY21.
Chairman John Ponsonby noted that the company is securing new customers for its IPS software and services lines, while at the same time gearing up for the launch of the new GenS software suite next year.
“Furthermore, with the prevailing global security situation, we are seeing real signs that defence procurement programmes are unlocking in our key regions, with several new opportunities already being pursued,” he added.
“With a stable contracted order book, good forward visibility of revenues over the next three years and a leaner, optimised organisational structure, the board is confident about the group's future prospects.”
Matthew Ord, Senior Digital Staff Writer
T: 0844 980 0188
E: matthew.ord@newsco.com
Emily Harbottle, Business Development Manager
T: 0117 906 5902
E: emily.harbottle@newsco.com
T: 0161 907 9711

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