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Pennant International – “pleased to report ongoing progress in the business”. How ‘pleasing’ is it?…

By Steve Moore | Thursday 25 July 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Systems support and training to the aerospace, defence and adjacent safety-critical markets business Pennant International Group (PEN) has issued a trading update including CEO Philip Walker “pleased to report ongoing progress in the business” and also that the group “notes the UK Strategic Defence Review recently announced by the new Labour government, and is pleased to see that the new government has committed to increasing UK defence spending to 2.5% of GDP”. So what of a current 4% lower share price response to 24p?
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