Business
Year-end Trading Update
Year-end Trading Update.
About this update from Pennant International Group Plc
[{"type":"text","content":"\n \n \n \n FOR IMMEDIATE RELEASE \n \n 8 February 2023\n \n \n \n \n \n \n \n \n \n \n PENNANT INTERNATIONAL GROUP PLC\n \n \n \n \n Trading Update\n \n \n \n \n \n \n \n \n Pennant International Group plc (AIM: PEN) (the \"Company\", the \"Group\"), a leading global provider of training technology and integrated product support solutions, provides the following trading update ahead of publication of the Company's full-year results for the year ended 31 December 2022 (\"FY22\") which it expects to announce during April 2023.\n \n \n \n \n \n A preliminary unaudited assessment of the Group's trading for FY22 indicates:\n \n \n \n \n \n •\n revenues of circa £13.7 million (2021: £16.0 million);\n \n \n •\n record gross margin of 42% (2021: 27%);\n \n \n • \n earnings before interest, taxation and amortisation of circa £0.5 million (2021: loss before interest, taxation and amortisation of circa £0.8 million);\n \n \n •\n net debt at year-end of £0.4 million (2021: net debt of £3.5 million);\n \n \n •\n three-year order book at year-end of £25 million (2021: £22 million), of which £13 million is scheduled for delivery in 2023.\n \n \n \n \n \n \n Phil Walker, Group CEO\n \n , commented: \"This is now the third consecutive trading period for which we have reported positive EBITA[i]. The Group's net debt position materially improved during the second half of 2022 and with a re-aligned cost base, much-improved gross margins and a healthy contracted order book, the Group has entered 2023 with a real sense of momentum.\"\n \n \n \n \n \n \n i - six months ended 31 December 2021, six months ended 30 June 2022, six months ended 31 December 2022.\n \n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Pennant International Group plc\n \n \n \n \n \n \n www.pennantplc.co.uk\n \n \n \n \n \n \n \n Philip Walker, CEO\n \n \n David Clements, Commercial & Risk Director \n \n \n \n \n +44 (0) 1452 714...