Cheltenham-headquartered training technology provider, Pennant International, has reported that trading to date aligns with expectations, and its investment programme is progressing as planned. Additionally, the group has announced the appointment of a new chair.
The company stated that its investment in its proprietary software suite continued throughout the first half of the year. This follows a £1.3 million investment in 2023, which culminated in the release of version 3 of GenS, the equipment configuration management solution, on 30 April 2024.
Pennant indicated that the investment programme has now entered its next phase, which involves integrating all three of Pennant’s core applications—GenS, Analyzer, and R4i—into a single, comprehensive solution. This integration aims to provide customers in the defence and other sectors with a powerful, market-leading toolset to manage, model, and utilise vast amounts of complex equipment data.
The group projected that the planned investment for 2024 would be similar in magnitude to that of 2023. The launch of this ‘integrated suite’ is targeted for the end of the year, with marketing and early engagement with key customers having commenced in 2022.
The business also announced a change in its board, with Phillip Cotton stepping down, allowing chair designate Ian Dighé to assume the role of chair immediately. Cotton will retire as a director and leave the board at the Annual General Meeting.
Ian Dighé, the new chair, stated: “The board would like to thank Phil Cotton for his five years of service, and we wish him all the best for the future. The process to find a new independent non-executive director with skills that complement the existing board is commencing.”
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.
