Pennant International, a software and training support provider for the aviation industry based in Gloucestershire, has reported revenues of £7.4 million for the past six months. This marks a slight increase in their financial performance. Consequently, the company’s adjusted EBITDA has risen from £800,000 to £900,000 in the first half of the year.
Following an announcement in May, Pennant International has continued to invest in its proprietary integrated software suite, now branded as ‘Auxilium’. The company has allocated approximately £700,000 towards this investment in the first half of the year. The unveiling of this new suite to the industry is scheduled for the fourth quarter, with the full release anticipated by the end of the year.
Additionally, Pennant International is making progress with several significant sales prospects, aiming to convert these into orders in the latter half of the year. However, the timing and magnitude of these potential contracts are dependent on various factors, including contractual agreements and the completion of processes at defence department and prime contractor levels.
Philip Walker, the chief executive, expressed his satisfaction with the company’s ongoing progress. He highlighted the investment and development of the new Auxilium software suite, which is expected to launch in the second half of this financial year.
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.
