10th Mar 2020 17:00
(Alliance News) - Training and support services firm Pennant International Group PLC on Tuesday announced the increase in the value of a contract.
In August last year, Pennant said it was responding to a customer request for changes to be made to a contract involving the designing and building of a set of electro-mechanical maintenance trainers for an armoured vehicle contract in the UK.
The scope and key terms of the contract have now been agreed, Pennant said, with formal execution of the amendment to come in the next two months.
The price is now GBP13.5 million, Pennant said, rising from GBP12 million before. Some GBP5 million is still to be recognised over 2020 and 2021.
Pennant shares ended 3.0% higher on Tuesday in London at a price of 68.00 pence each.
By George Collard; [email protected]
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