StockMarketWire.com - Training solutions provider Pennant International Group posted a 78% rise in annual profit as new contract wins boosted sales.

Pre-tax profit for the year through December jumped to £3.2m, as revenue climbed 17% to £21.1m.

The company did not declare a dividend.

'Prospects for the UK, not least due to Brexit, and the broader global economy remain uncertain, with ongoing political and financial pressures in defence markets and elsewhere,' chairman Simon Moore said.

'However, the group is experiencing an encouraging start to the current financial year.'

'The board anticipates that the full year results for 2019 will be significantly second-half weighted due to the mix of products and the application of IFRS 15 to the timing of product delivery and realisation of group profits.'

'Our contracted order book, valued at more than £37m, underpins good forward visibility of revenues well into 2021, and, when combined with the pipeline of active bids and the acquisition of ASP, together provide an excellent basis for further achievement in 2019 and beyond.'




At 10:00am: [LON:PEN] Pennant International Group PLC share price was +2p at 113.5p



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