Business
2010 Final Results
2010 Final Results.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6974D Pennant International Group PLC 28 March 2011 \n \n\nFor Immediate Release 28 March 2011\nPennant International Group plc\nPreliminary Results for the year ended 31 December 2010\nA further year of improved profitability and strong cash generation across all three divisions;\n \nPennant International Group plc (\"Pennant\" or \"the Company\"), the AIM quoted supplier of integrated logistic support solutions, products and services, principally to the defence, rail, aerospace, and naval sectors and to Government Departments, announces preliminary results for the year ended 31 December 2010.\n \nIn his Statement to shareholders, Chairman, Mr. Christopher Powell said:\n\"I am pleased to report further improved profitability and strong cash generation. 2010 was a very busy year on the tendering front resulting in a much improved order book, including a contract signed after the year end with AgustaWestland worth in excess of £10 million over two years, the largest contract ever won by the Group. There is also an increasingly strong pipeline of further opportunities.\"\n \nHighlights: Financial\n \n· Group revenues rose to £9.57million (2009: £9.49million).\n· Gross margin increased to 41.45% (2009: 39.1%).\n· Group operating profit up 70% to £542,000 (2009: £305,000).\n· Basic earnings per share up 100% to 2.01p (2009: 1.00p).\n· Net cash at year end up 36% to £1.16million (2009: £0.85million).\n· Proposed final dividend of 1.00p per share (2009: NIL).\n· Balance sheet fur...