Pennant Share Chat (PEN)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Pennant Int.	LSE:PEN	London	Ordinary Share	GB0002570660	ORD 5P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+2.00p	+1.45%	139.50p	137.00p	142.00p	140.00p	137.50p	137.50p	21,022	13:10:16

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Software & Computer Services	18.1	1.8	4.7	30.0	47.02

Pennant Share Discussion Threads

Showing 2501 to 2525 of 2525 messages

Chat Pages: 101 100 99 98 97 96 95 94 93 92 91 90 Older

Date	Subject	Author	Discuss
02/10/2018 10:34	re: the £25 million to £30 million contract - any idea which region this is in? I ask because today's contract was in Qatar and would that influence the company winning contracts in other GCC countries due to problems between them and Qatar?	mfhmfh	Read Full Thread Reply
02/10/2018 08:27	Pleased to see the contract confirmed, as you reported hastings the CEO was confident that one or both contracts would be confirmed this quarter. The £25m - £30m contract will be a game changer here and should see a large rerating when announced.	interceptor2	Read Full Thread Reply
02/10/2018 07:53	Pretty good, the mcap is almost the size of order book, the start of rerate I hope...	modform	Read Full Thread Reply
02/10/2018 07:51	If, or rather hopefully when the significant pending contract comes through the order book will swell to a notable £70m! WH Ireland has this morning lifted its fair value from £1.45p to £1.70p.	hastings	Read Full Thread Reply
02/10/2018 07:47	Yes and mcap only £44m!	aishah	Read Full Thread Reply
02/10/2018 07:36	Smashing news Hastings, yes. Takes the order book up to over £40m now.	cfro	Read Full Thread Reply
02/10/2018 07:25	Excellent news this morning on the Middle Eastern contract, more to follow in due course one hopes.	hastings	Read Full Thread Reply
30/9/2018 19:33	Hastings, agree on the dividend. If there are compelling growth opportunities the company should pursue those. Other stocks in a portfolio can provide a yield. Looks like the company has the chance to expand its role in the niche it operates in. Go for it.	leading	Read Full Thread Reply
28/9/2018 17:04	Had the chance to read Mr Thompson's lengthy piece and very good it is too. My more modest offering may also be of some interest to others. I have also popped a link to my previous piece earlier in the year. Pennant International delivered some very positive interim results earlier this week which set the defence/aerospace focused company well on course to meet the full year guidance. Once more I have been fortunate enough to catch up with CEO Phil Walker for a few words who was able to expand on some of the highlights for the company along with expectations going forward. The numbers reported painted a positive picture, as revenue jumped 38% to £13.2m which in turn saw pre-tax profits up 125% to £2.1m resulting in fully diluted EPS of 5.62p. Walker was understandably pleased with these interim results which have been achieved as the company embarked on a number of strategic changes. The CEO says that its recent expansion programme continues, which will soon see the company further its capacity resulting in a quadrupling of where it was at a few years back. He also highlights the nature of further investment in personnel, infrastructure and facilities, including major and senior operational appointments, along with the purchase of an additional freehold property. The headcount Walker says is now up to 200, with 140 based in the UK whilst the remainder is split between Australia and Canada and the company is still actively recruiting. Alongside some more sizeable business Pennant has also benefited from a number of smaller contracts which have been achieved in various areas of its expanded operations. Milestone and final payments on contracts have also come through as expected, particularly from the Middle Eastern clients which has assisted in positive cash generation. Looking ahead Walker sounds a confident note on prospects, particularly in relation to the two previously named potential contracts, one of which would be worth between £25-£30m to Pennant. Although always difficult to pin point exactly, the CEO is hoping that confirmation on one or both of the these sizeable contracts will be concluded by the end of Q4, adding that just one of these would underpin the WH Ireland estimate for next year and provide for £21m in revenue and a pre-tax profit of £3.65m. But, given the strength of its pipeline and the obvious activity, it is conceivable that Pennant will win additional business too that could then pave the way for an upgrade on the current 2019 EPS of 10p. Walker says that the climate remains positive particularly in Australia alongside the UK and although the Middle East spend has been dictated largely by the oil price performance, long term the region remains very positive. The dilemma in all this that Pennant seemingly faces at the end of the current financial year is whether to reinstate a dividend or not, where WH Ireland has pencilled in a 2p full year payment. Walker adds it should be interesting come that time, as the company is weighing up the balance of rewarding shareholders with a dividend or holding back its much improved cash position for working capital given the momentum that has been built and the opportunities that exist. No doubt shareholders will be divided on this issue, but from this writers perspective I would rather the Pennant board hold back on the dividend to maximise its growth prospects that appear to be strong. It is certainly a different business than when I first took a look and the recent strengthening of its board has clearly further assisted, such as the appointment of a new FD and the drafting in of John Ponsonby (previously MD Leonardo Helicopters UK) as a non exec. Pennant as I have also penned before is a very much respected player in the industry which although niche, operates in areas where there is an extremely high barrier to entry, particularly regarding its safety and training systems. Rail is also providing an additional boost for the company where although having been active in the sector for twenty years and built up a good pedigree, recent work for Network Rail and openings on H2 suggests there is scope for growth. And on growth, Pennant has achieved this through organic means, despite the company being open to making future acquisitions if they are the right fit. WH Ireland has today upped its fair value of the company moving to £1.45p from £1.37p although does add that it sees a significantly greater value opportunity assuming contract conversions. Although nothing can of course be taken for granted, Walker and his team sound bullish enough on prospects and it would appear to be purely a matter of timing before it can confirm one or both of the recently referred to contracts, which would most likely provide for another lift in the share price. To recap, these relate to the Middle East- “Letter of Intent” announced earlier in the year, and the provisional “Down-Selection” on a major programme from August. Both of these potential contracts would more than double Pennant's 3-year order book from £31m as noted 06/18, to around £70m, which would open the door to longer-term forecasts and the possible upgrades. The shares currently stand on a forward PER of 12 at today's price of £1.20p which doesn't look expensive if you believe the business will come through as expected. There is of course an execution risk, which obviously has to be taken on board and that may deter some from buying in at current levels, whilst those sitting on a decent profit may wish to install a stop, should the price begin to drift. That said, the team have a busy few days in the City doing the rounds where it appears the company is enjoying plenty of support for its recent strategy for growth. The balance sheet is looking as good as it has in a long time, with no debt and net cash expected to come out at £3.1m rising to £4.5m next year. Key customers are blue chip players such as BAE Systems, Lockheed, General Dynamics amongst others such as HMRC and ADO (Australian Defence Organisation). Https://www.cambridge-news.co.uk/business/time-invest-defence-aerospace-business-14411939	hastings	Read Full Thread Reply
27/9/2018 15:03	12 noon spike was indeed in response to Mr Simon Thompson's latest scribbling. Strong buy. TP 180p Pennant’s contract momentum building - HTTPS://www.investorschronicle.co.uk/comment/2018/09/27/pennant-s-contract-momentum-building/	speedsgh	Read Full Thread Reply
27/9/2018 13:43	Hi cfro, I didn't get the impression of the two contracts in question being delayed.	hastings	Read Full Thread Reply
27/9/2018 13:35	Thanks hastings, looking forward to your notes. I got the impression that the new contracts might have been a little delayed in the results release. Not surprised as contracts of this nature usually always take longer to sign. Looks like today's 12 noon spike was likely due to Simon T from the Ic.	cfro	Read Full Thread Reply
27/9/2018 12:28	Cheers Hastings	cockerhoop	Read Full Thread Reply
27/9/2018 12:16	Mmm, very interesting spike up.Spoke with the CEO earlier in the week I'll post my notes later. Pending contracts expected to be confirmed in the next few months/Christmas I believe! But, they've others in their now building pipeline, so anything possible.	hastings	Read Full Thread Reply
27/9/2018 12:13	Unless insiders have got whiff of a pending contracts being signed :-)	cockerhoop	Read Full Thread Reply
27/9/2018 12:11	Mid-day suggests Simon Thompson in IC?	cockerhoop	Read Full Thread Reply
27/9/2018 12:09	All of a sudden buyers appearing and price increases, must have been mentioned somewhere.	interceptor2	Read Full Thread Reply
24/9/2018 09:42	There are two ways to look at dividend payments, in most cases I am happy to receive dividend if there is excess cash. But reading today's statement I am happy to believe the reasons given for passing the payment, with new higher contracts anticipated they will need the funds for working capital and they have hired a COO in anticipation of these larger contracts. If these larger contracts are secured I wonder if management are expected an increase in the size of future contracts?	interceptor2	Read Full Thread Reply
24/9/2018 09:09	but still no dividend	varies	Read Full Thread Reply
24/9/2018 07:50	Yes cfro very positive and looking extremely interesting moving forward.Broker has this morning upped it's fair value to £1.45p from £1.37p but sees significantly greater value opportunity assuming contract conversion.	hastings	Read Full Thread Reply
24/9/2018 07:44	Certainly do hastings! Excellent results here.. No further news on the Middle Eastern contracts though so i suppose we shall have to be a bit more patient. Tendering for further contracts with £100m potential pipeline.	cfro	Read Full Thread Reply
21/9/2018 11:59	Interim results out Monday, should make for pleasant reading.	hastings	Read Full Thread Reply
29/8/2018 08:58	All seems to be going well here of late. Well done to those that stayed on board!	topvest	Read Full Thread Reply
28/8/2018 17:41	Late flurry of trades in the last hour or so and combined price move.	cfro	Read Full Thread Reply
21/8/2018 16:45	More good coverage: Https://uk-investor.com/2018/08/21/pennant-international-group-plc-lon-pen-announces-two-further-contracts-strengthening-the-investment-case/	spmc	Read Full Thread Reply

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