Pennant International Group, a systems support and training solutions company based in Cheltenham, has announced a positive trading update for the first half of 2024. The firm reported revenues of £7.4 million for the period, up from £7.1 million in the same period last year, with a slight increase in gross margin to 48 percent.
The company is continuing to invest in its new integrated software suite, Auxilium. Pennant has also advanced several significant sales prospects, aiming to convert these into orders in the second half of the year.
The group has welcomed the recent commitment from the new Labour government to increase UK defence spending to 2.5 percent of GDP. Group CEO Philip Walker expressed satisfaction with the company’s ongoing progress, particularly the development of the Auxilium software suite, which is expected to be launched in the second half of this financial year.
Pennant International Group shows a steady financial performance and strategic investment in new products, positioning itself well for future growth and market opportunities.
Pennant International Group plc (LON:PEN) was established over 60 years ago and is a leading global provider of technology-based maintainer training and integrated product support solutions. The Group operates worldwide, with offices in Europe, North America and Australasia.
