REG - Pennant Int. Group - Year-end Trading Update

Pennant InternationalAnnouncement

08/02/2023 07:00

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RNS Number : 2390P  Pennant International Group PLC  08 February 2023

FOR IMMEDIATE RELEASE
 
       8 February 2023

 

PENNANT INTERNATIONAL GROUP PLC

Trading Update

 

Pennant International Group plc (AIM: PEN) (the "Company", the "Group"), a
leading global provider of training technology and integrated product support
solutions, provides the following trading update ahead of publication of the
Company's full-year results for the year ended 31 December 2022 ("FY22") which
it expects to announce during April 2023.

 

A preliminary unaudited assessment of the Group's trading for FY22 indicates:

 

•      revenues of circa £13.7 million (2021: £16.0 million);

•      record gross margin of 42% (2021: 27%);

•     earnings before interest, taxation and amortisation of circa £0.5
million (2021: loss before interest, taxation and amortisation of circa £0.8
million);

•      net debt at year-end of £0.4 million (2021: net debt of £3.5
million);

•      three-year order book at year-end of £25 million (2021: £22
million), of which £13 million is scheduled for delivery in 2023.

 

Phil Walker, Group CEO, commented: "This is now the third consecutive trading
period for which we have reported positive EBITA i  (#_edn1) . The Group's net
debt position materially improved during the second half of 2022 and with a
re-aligned cost base, much-improved gross margins and a healthy contracted
order book, the Group has entered 2023 with a real sense of momentum."

 

i - six months ended 31 December 2021, six months ended 30 June 2022, six
months ended 31 December 2022.

 

 

 

Enquiries:

 

 Pennant International Group plc                    www.pennantplc.co.uk (http://www.pennantplc.co.uk)
 Philip Walker, CEO                                 +44 (0) 1452 714 914

 David Clements, Commercial & Risk Director

 WH Ireland Limited (Nomad and Broker)               https://www.whirelandplc.com/capital-markets
                                                    (https://www.whirelandplc.com/capital-markets)
 Mike Coe                                           +44 (0) 20 7220 1666

 Sarah Mather

 Walbrook PR (Financial PR)                         paul.vann@walbrookpr.com (mailto:paul.vann@walbrookpr.com)
 Paul Vann / Tom Cooper /Joe Walker                 +44 (0)20 7933 8780

                                                    Mob: +44 (0)7768 807631

 

 

 

 

 

 

 

 

 

(#_ednref1)

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