Cheltenham-based Pennant International Group has reported rising revenues and a return to operating profit.
The IPS software and services company has provided a trading update ahead of the publication of the company’s full-year results for the year ended 31 December 2023, which are scheduled to be announced in April.
The preliminary unaudited assessment of the group’s trading for FY23 indicates:group revenues of £15.5 million (2022: £13.7 million); gross margin of 50%, a record for the group (2022: 42%) and adjusted earnings before interest and tax (EBIT) of £0.4 million (2022: EBIT loss of £1.0 million).
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.