Pennant International achieves Record Gross Margin and Profitability

A Cheltenham-headquartered IPS software and services company has returned to operating profit and achieved a record gross margin in its latest year.

Pennant International Group was established more than 60 years ago and operates worldwide, with offices in Europe, North America and Australasia.

In a trading update for the year-end 31 December 2023, the company reported group revenues of £15.5m, up from £13.7m in 2022. Gross margin was at 50 per cent compared to 42 per cent the year before. EBITA was at £1.7m compared to £500,000 the prior period.

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.

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