Pennant International Group, based in Cheltenham and known for its systems support software and training services, expressed confidence in its potential for growth following a positive set of results for the first half of the year. The company reported its interim results for the six months ending 30 June 2024, showing adjusted revenue of £7.4 million, which represents an increase of 4 per cent compared to £7.1 million recorded during the same period last year.
Despite the improvement in revenue, the group posted a pre-tax loss of £400,000, slightly higher than the £300,000 loss from the previous year. However, the chairman, Ian Dighé, remained optimistic, highlighting the group’s ability to maintain positive earnings before interest, taxation, and amortisation during the first half of 2024.
Dighé reiterated the company’s commitment to its strategic goals, pointing to the imminent release of its Auxilium software suite as a key driver of future growth. He emphasised that restructuring the training systems business would allow Pennant to sharpen its focus on longer-term opportunities for their offerings in software, systems, and services, particularly in the defence sector and other areas beyond it.
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.
