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Pennant International Group PLC - Cheltenham, England-based training technology and product support provider - Pretax loss narrows to £2.5 million in 2021 from a loss of £3.1 million a year prior. Revenue climbs 6.0% to £16 million from £15.1 million. Company says revenue was up in both the Technical Training division and Integrated Product Support division, despite the impact of Covid-19 and a challenging first half. Pennant does not declare a final dividend.
Chair John Ponsonby says: ‘I am pleased to report that the Group has delivered a significantly improved performance in 2021 compared with 2020 albeit the extent of the improvement is impacted by the well documented issues we have experienced on the UK Maintenance Training Equipment programme.’
Ponsonby continued that the current year has started well, with its contracted three-year order book now at more than £32 million at the end of March. At the end of 2021, this order book stood at £22 million. Company looks forward with confidence, he says.
Current stock price: 36.78 pence, down 5.7% in London
12-month change: down 15%
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