London, September 1, 2023 – Pennant International Group, a leading provider of technology-based training, announced today that its revenue in the first half of the year has increased. The company remains focused on enhancing its software and technical services revenue while also strengthening its order book.
During this period, Pennant International Group recorded a revenue of £7.1 million ($9.3 million), surpassing the £6.9 million generated in the first half of 2022. It is important to note that 56% of the revenue was recurring compared to 65% in the same period last year.
Furthermore, the company’s earnings before interest, taxation, and amortization (EBITA) experienced a significant boost, reaching £500,000 compared to £100,000 in the previous year.
Pennant International Group has made excellent progress on its Boeing Defense United Kingdom contract, specifically for the U.K. Apache upgrade program. It has successfully completed six out of the eight scheduled engineering design reviews. The company is on track to complete the contract by September 2024.
“We are delighted to maintain positive trading momentum during this period, securing significant contracts and achieving further EBITA growth,” stated a company representative.