Business
2023 Final Results
2023 Final Results.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n\n \nFOR IMMEDIATE RELEASE 21 June 2024\n \n\nPENNANT INTERNATIONAL GROUP PLC\n(\"Pennant\", the \"Company\", or the \"Group\")\n \nFinal Results for the Year Ended 31 December 2023\nGrowth Strategy Delivers Return to Operating Profit & Record Gross Margin\n \n \nPennant International Group plc (AIM:PEN), the systems support and training solutions company, announces its Final Results for the Financial Year ended 31 December 2023 (the \"Year\", the \"Period\" or \"FY 2023\").\n \nCommenting on the results, Chairman, Ian Dighé, said: \"I'm pleased to report my first set of results as Chairman of Pennant, highlighting significant Group-wide progress with a return to operating profit and record gross margins.\n \n\"We continue to invest in, and develop, our leading suite of services and solutions, helping our customers maximise their operational efficiency, whilst pursuing a Group strategy that focuses on higher value, higher margin, recurring software and services revenues.\"\n \nKey points: Financial\n \n· Group revenues of £15.5 million (2022: £13.7 million);\n· Gross profit margin of 50% (2022: 42%);\n· EBITA profit of £1.4 million (2022: £0.5 million); \n· Loss before tax of £0.4 million (2022: loss before tax £1.4 million);\n· Operating profit of £0.1 million (2022: operating loss of £1.0 million);\n· Basic loss per share of 2.53p (2022: loss of 2.45p);\n· Unrelieved tax losses carried forward of £6.8 million (2022: £7.1 million);\n· Group net assets at year-end of £9.8 million (2022: £10.7 million);\n· Net debt at year-end of £1.9 million (2022: £0.4 million) reflecting investment in the IPS suite;\n·&n...