Business
Half Yearly Report
Half Yearly Report.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n \nRNS Number : 0069R Pennant International Group PLC 08 September 2014 \n \n\n \n \n8 September 2014\n \nPennant International Group plc\nInterim Results for the six months ended 30 June 2014\nA good half-year performance producing strong cash generation and increased margins;\n \nPennant International Group plc (\"Pennant\" or \"the Group\"), 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, announce Interim Results for the six months ended 30 June 2014.\n \nCommenting on the Group's performance, Chairman Christopher Powell said:\n\"I am pleased to report another period of good profits and cash flow and an increase in the interim dividend declared. During the period all trading divisions were profitable, a number of tenders for significant packages of work were submitted and solid progress was made on all of our existing major contracts\"\n \nHighlights: Financial\n \n· Group revenues for the period of £9.6million (2013: £9.8million);\n· Profit before tax of £1.18million (2013: £1.14million);\n· Profit for the period attributable to shareholders of £0.91million (2013: £0.87million);\n· Basic earnings per share of 3.47p (2013: 3.31p);\n· Cash generated from operations of £1.4million (2013: £0.55million expended)\n· Net cash at period end of £1.9million (2013: £1.2million); Nil borrowings;\n· Interim dividend declared of 0.9p per share (2013: 0.8p)\n \nHighlights: Operational\n \n· New contract with value of approx £1.3million for supply of ab-initio training aids to Oman Military Training College;\n· Successful delivery and installation of two maintenance trainers for AW159 Wildcat under contract with Agusta Westland;\n· Good progress towards renewal of contract with Canadian Department of National Defence for OmegaPS software suite with potential value of CAD 20million over 5 years; \n· Continuing work on major contract with BAE Systems Australia Limited to supply and support a su...