Pennant International, the training firm focused on defence, rail and aeronautics clients, has reported big rises in revenues and profits as a steady stream of major contracts has buoyed first half results.
Revenue for the six months to the end of June were £7.1m, up 43% on the same period of last year. The profit before tax figure was even stronger, almost tripling from £0.272m to £0.755m.
Earnings per share have risen 207% to 2.21p while the dividend has been declared at 0.6p per share, a rise of 20% on 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
A number of key contracts have been won during the last six months, including a maintenance training equipment contract with Augusta Westland for the Lynx Wildcat helicopter.
The firm has also upgraded its virtual reality parachute trainer.
Pennant International's Chairman, Christopher Powell, said: ""Both the Training Systems and the Data Services divisions have been working on major contracts and there has been growth in consultancy revenues in the Software Services division.
"The pipeline continues to be strong and active with opportunities for new orders this year and in the medium term."
The stock had gained 12% by 11:02 and is now up 63% since the start of the year.
BS
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
