13th Jul 2026 12:38
(Alliance News) - Pennant International Group PLC on Monday said it expects to report higher revenue for the first half of the year after "a number of strategic contract wins".
The Cheltenham, England-based provider of systems support, technical services and training with focus on defence sector expects to report revenue of around GBP5.9 million for the six months to the end of June, up 31% from GBP4.5 million a year earlier.
It said the gross margin for the first half was 53%, widened from 45%.
The firm expects to report adjusted earnings before interest, tax, depreciation and amortisation of GBP500,000, swung from a loss of GBP1.0 million a year ago.
The adjusted pretax loss narrowed to GBP300,000 from GBP1.7 million previously.
Pennant International noted that its Auxilium phase three software was successfully released in June. It reported continued investment in the Auxilum suite of GBP700,000 in the first half, unchanged from a year ago.
The firm said it is on track to achieve full year market expectations.
These are for revenue of GBP13.0 million, up from GBP9.7 million in 2025, adjusted Ebitda of GBP1.6 million, swung from a GBP400,000 loss and adjusted pretax profit of nil, narrowing from a GBP1.9 million loss.
Chief Executive Officer Phil Walker said: "The first half of 2026 demonstrates the progress Pennant is making both strategically and financially as we execute our strategy. Revenue, margin and profitability have all improved significantly, while the successful launch of Auxilium phase three and a number of strategic contract wins have strengthened our position in key markets.
"With growing recurring revenues, increasing demand for our solutions and a solid pipeline of opportunities, we enter the second half of the current year with confidence and remain on track to meet full-year market expectations."
Shares in Pennant International were up 11% at 31.00 pence on Monday afternoon in London.
By Michael Hennessey, Alliance News reporter
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