Pennant International Group PLC Trading Update (5679N)

TIDMPEN

RNS Number : 5679N

Pennant International Group PLC

21 January 2019

FOR IMMEDIATE RELEASE 21 January 2019

PENNANT INTERNATIONAL GROUP PLC

Trading Update

Pennant International Group plc ("Pennant" or the "Group"), the AIM quoted supplier of integrated training and support solutions, products and services which train and assist operators and maintainers in the defence and regulated civilian sectors, is pleased to provide the following update on the Group's trading for the financial year ended 31 December 2018 ("FY2018").

Trading Update FY2018

Preliminary unaudited assessment of the Group's trading for FY2018 indicates that Pennant is 'on track' to deliver in line with market expectations, and anticipates that it will report:

   --      Revenues of circa GBP21 million; 
   --      Earnings before interest, taxation and amortisation of approximately GBP3.3 million; 
   --      Cash at year-end of circa GBP2 million; 
   --      Three-year order book at year-end of over GBP37 million. 

The Group's audited results for FY2018 are scheduled to be released on 12 March 2019.

Brexit

The Group continues to monitor developments regarding the UK's impending exit from the European Union and its potential impact on the Group's business.

With no significant contracts with customers in EU member states (other than the UK itself), and no material supply chain in the EU, the Group expects that Brexit will have minimal effect on its trading.

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries:

 
 Pennant International Group plc    www.pennantplc.co.uk 
 Philip Walker, CEO 
  David Clements, Commercial & 
  Risk Director                     [phone] 
 
 WH Ireland Limited                 www.whirelandcb.com 
 Mike Coe                           [phone] 
 
 Walbrook PR (Financial PR)         [e-mail] 
                                    [phone] 
 Paul Vann / Tom Cooper              [phone] 
 

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January 21, 2019 02:00 ET (07:00 GMT)