Business
2016 Final Results
2016 Final Results.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n \nRNS Number : 0912Z Pennant International Group PLC 10 March 2017 \n\n \n \n\nFor Immediate Release 10 March 2017\n \nPENNANT INTERNATIONAL GROUP PLC (AIM: PEN)\n \nPreliminary Results for the year ended 31 December 2016\n \nA challenging year which finished strongly;\nOn track for further significant progress;\nStrong order Book; Strengthened Balance Sheet; Divisional and Operational Restructuring\n \nPennant International Group plc (\"Pennant\" or \"the Group\"), the AIM quoted supplier of integrated support solutions, products and services, principally to the defence, rail, aerospace and naval sectors and to Government Departments, announces Preliminary Results for the financial year ended 31 December 2016.\n \nCommenting on the Group's performance, Chairman, Simon Moore in his first Annual Statement to shareholders, said:\n\"In the Trading Update published in June 2016 the Board stated that, following modest pre-tax profit in the first half, an improvement in trading was expected in the second half of the financial year. I am pleased to confirm that this improvement materialized, delivering a strong result for the full year.\" \n \n\"On 21 February 2017 Chris Snook stepped down from the company. The Board has subsequently appointed Philip Walker as Chief Executive Officer to succeed him having been identified as a potential successor in 2014. This is a key appointment which provides fundamental continuity with the brand, knowledge base and strategy of the business. I am delighted that Philip has agreed to step up to assume the leadership of the Group. He has moved quickly to build a leadership team around him and will be making m...