AIM-listed training technology company Pennant International Group has recorded a “much improved performance” in its final results for the year.
The Gloucestershire business, which specialises in training technology for aviation industry announced its final results for the year, reporting that group revenues were down by £2.3m at £13.7m and the firm had earnings of £500,000.
Pennant therefore recorded a loss of £1.4m compared to a loss of £2.5m from the previous year.
During the year Pennant secured a contract with Boeing Defence UK Limited for the upgrade of UK Apache training equipment, worth £8.8m over three years, with the initial engineering milestone event successfully passed.
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.