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Pennant International Group Plc

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Pennant International Group Plc LSE:PEN London Ordinary Share GB0002570660 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 37.00 0.00 07:36:03
Bid Price Offer Price High Price Low Price Open Price
36.00 41.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Engineering Services 13.69 -0.90 - - 13.61
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 37.00 GBX

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Pennant (PEN) Discussions and Chat

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Pennant (PEN) Top Chat Posts

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Posted at 01/5/2023 07:38 by hastings
Pleased you approve 40 Fathoms.I agree with you, re-the Canadian contract and it was touched on when I spoke with them. I feel they're pretty confident about that following through, particularly given the long term relationship, so another to keep an eye on. The Ajax/GD next phase is intriguing, for PEN, will they-won't they, I guess a conclusion to that one isn't too far away.
Posted at 28/4/2023 08:00 by hastings
Cheers for that. A lot of moving parts here now and particularly interesting growth potential in the US. Aside that, it is hard to see how the next phase of the Ajax programme won't include PEN, as it would be extremely difficult at this stage for another player to step in. Obviously after the last experience with GD PEN are extremely wary and have no doubt laid out their own terms. My take is that is that they certainly won't take it on unless it's lucrative enough and if it doesn't happen, it's neutral as nothing in for it on the forecasts.Obviously there is a it seems a very real desire for PEN to put to paper! Time will tell.
Posted at 26/4/2023 14:38 by 40 fathoms
For what it is worth, the house broker has taken its target price up to 65p from 55p but seems to have kept its profit forecasts flat after the 14% upgrade last week.
Posted at 26/4/2023 07:52 by masurenguy
Final Results for the Year Ended 31 December 2022

Continued Positive Trading Momentum;

Full-Year EBITA Profit of GBP0.5m

Transformation of business mix produces significantly increased gross margin;

Further growth in recurring revenues; Robust order book

Pennant International announces its Final Results for the year ended 31 December 2022.

Commenting on the Group's performance, Phil Cotton, Chair, said: " I am pleased to report that the Group has delivered a much-improved performance in the year ended 31 December 2022, with profitability in-line with market expectations despite reduced revenues, achieving an EBITA profit of £0.5m for the year (2021: EBITA loss of £0.8m and an EBITDA profit of £1.0m (2021: EBITDA loss of £0.1m). The improved performance was primarily the result of the progress made towards our technology and software transformation, coupled with the completion of the legacy engineered solution contract. The Group's ongoing focus on increasing revenues from software and technical services is reflected in these results, and generated revenues totalling £10.2m in 2022 (2021: £9.1m)."

Posted at 09/3/2023 23:51 by 40 fathoms

For the longer term this is worth keeping an eye on, the AUKUS agreements will see a signficant investment in to the military capabilities in the AUS. I am also sure that the work that can be given to local contractors will be given. Pennant is increadibly well positioned in Australia and I have no doubt in time PEN will pick up a good level of work.

Posted at 16/2/2023 08:08 by robin_lemer
I am a shareholder and am very happy in the jump in today's share price. Is there a new tip or newspaper article recently published
Posted at 10/2/2023 20:12 by clive7878
Sounds good but then Slp is on a prospective pe of 3, and now on a flat share price.
Posted at 21/9/2022 07:17 by masurenguy
Interim Results for the six months ended 30 June 2022

Return to positive EBITA; business mix transformed; significant gross margin improvement

Pennant International Group plc (AIM: PEN) ("Pennant", the "Group" or "Company"), a leading global provider of training technology and integrated product support solutions, announces its Interim Results for the six months ended 30 June 2022 (the "First Half", the "Period", or "H1 2022").

Commenting on the results, Chairman John Ponsonby said: "I am pleased to report that the Period saw the Group return to positive earnings before interest, taxation and amortisation as gross margin significantly improved and costs remained under tight control. As a result of management's continued efforts to deliver the Group's strategy, we now have a leaner, more streamlined organisation, with an increasing proportion of recurring revenues from software and services, providing greater forward visibility and a solid platform from which to grow the business and enhance shareholder value."

Key points: Financial

-- oup revenues for the Period of GBP6.9 million (H1 2021: GBP 7.4 million) of which circa 65% were recurring (H1 2021: 53% recurring);
-- 52% of revenues generated from software licensing and associated activities (H1 2021: 35%);
-- Gross margin doubles to 41% (H1 2021: 21%);
-- EBITA profit of GBP0.1 million (H1 2021: EBITA loss of GBP1.0 million);
-- EBITDA profit of GBP0.4 million (H1 2021: EBITDA loss of GBP0.7 million);
-- Loss before tax of GBP0.8 million (H1 2021: loss before tax of GBP1.7 million);
-- Net debt at Period end of GBP4.1 million (H1 2021: net debt of GBP1.9 million);
-- Trade and other receivables due at Period end of GBP5.1 million (H1 2021: GBP3.7 million);
-- Basic loss of (2.21)p per share (H1 2021: basic loss per share of (4.64)p per share);
-- Unrelieved tax losses of GBP6.7 million carried forward (H1 2021: GBP4.5 million carried forward);
-- Three-year order book at Period end stood at GBP27 million (H1 2021: GBP26 million).

Key points: Operational

-- Secured the 'Major Programme' a contract from Boeing Defence UK Limited for the upgrade of Apache training equipment, worth GBP8.8 million over three years.

-- Following contract award, successfully passed the initial engineering milestone event on the Apache upgrade programme.

-- Factory acceptance achieved on the UK Helicopter programme (overall contract value: GBP3.5 million), with the training device delivered to the end user's site post Period end.

-- A second software and services order secured in the commercial aerospace sector (overall order value: USD$1.7 million), a key target market for the Group's IPS business line.

-- evelopment work completed on prototype simulator for rail infrastructure organisation which is intended to be rolled out to numerous sites in the future.

Post Period end highlights:

-- First 'Launch Partner' to participate in programme of testing and product promotion for new GenS product signed in Australasia.

-- Circa GBP1 million of orders for software and equipment upgrades received across July and August, taking orders received during 2022 to approximately GBP12 million.

-- GD MTE programme almost complete - all four devices have been built and achieved factory acceptance - and will be finished before year-end.

-- Surplus freehold site (Pennant Court) sold in August for GBP2.1 million with proceeds used to paydown borrowings (reduced to GBP2 million as at 20 September 2022).

Posted at 03/8/2022 08:53 by masurenguy
Sale of Pennant Court

Pennant International Group announces that it has exchanged contracts for the sale of its facility known as Pennant Court. With the Group's increasing software focus and reduced reliance on resource-intensive hardware engineering activities, earlier this year the Board commissioned a comprehensive review of the Group's UK facilities. Recognising a reduced requirement for space at its Cheltenham operating sites, the Board decided to market for sale the Group's former Cheltenham head office, Pennant Court. Completion is scheduled for 19 August 2022. Pennant has not entered into any leaseback arrangement in relation to any part of the property and will vacate the site entirely upon completion. The sale price is £2.1m (plus VAT), which will be payable in full, in cash on completion. After transaction expenses, the sale is expected to realise a profit of £0.2m. The Board considers that the sale price fairly reflects Pennant Court's market value.

The sale proceeds will be used to reduce the Group's overdraft, which currently stands at circa £4.2m overdrawn (against a temporary limit of £5m) such that immediately after the sale, the Group expects to be around £2.1m overdrawn against an updated limit of £3m (adjusted for the release of the asset from the bank's security package). The Group expects to realise savings of circa £0.2m pa in respect of running costs related to Pennant Court. The Group will also terminate its office lease in Stevenage this month and is in the early stages of negotiations to surrender another leased premises. The Group will continue to have sufficient facilities to service its order book and pipeline opportunities with 30,000 square feet of retained facilities in Cheltenham alone.

Posted at 25/5/2022 17:33 by boystown
And there it is; Simon T ....

Last two paras....

The disposal of the Cheltenham property alone will wipe a further £0.25mn of annual overheads, adding further weight to WH Ireland’s forecast that pre-tax profit will rise to £1mn on revenue of £18mn in 2023. Reassuringly, Pennant already has £12.9mn of orders booked for delivery in 2023. It’s worth noting, too, that £6.7mn of unused tax losses will benefit future taxable profits and accelerate the earnings recovery.

Pennant’s share price has risen five per cent since my last buy call (‘Pennant̵7;s recovery on track’, 25 January 2022), highlighting strength relative to the FTSE Aim All-Share Total Return index which has lost 12 per cent of its value in the same four-month period. Expect the outperformance to continue. In fact, if contract momentum continues to build, as seems highly likely, then Pennant could even move into an earnings upgrade cycle, a possibility that is certainly not embedded in the group’s modest £13.5mn market capitalisation nor a 2023 price/earnings (PE) ratio of 14. Buy.

Pennant share price data is direct from the London Stock Exchange
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