Pennant International (PEN) has announced its 2021 “second half was stronger, generating an EBITA profit of £0.2m” and “the current year has started well. In March 2022, we finally secured the Major Programme for Boeing Defence United Kingdom Limited… the board views prospects for 2022 with increasing confidence”. So what of a current 36.5p share price, down more than 6%?...
Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors Pennant International (PEN), I concluded last month as the shares fell to below 30p ‘it argues it “expects to make an EBITA profit for the current six months to the 2021 year-end”, but that’s somewhat bullshit earnings and compares to a still market cap of £10.5 million. With, I suggest, there doubt on even those ‘earnings’ for the full-year considering the noted dynamics, I certainly currently continue to avoid’. The shares last closed at 26p, but are currently back up towards 30p on the back of half-year results...
Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors Pennant International (PEN), in April I reviewed why “pleased to report” full-year results saw the shares approaching 14% lower at 38p and concluded continue to avoid. Today a stated “satisfactory” half-year and “anticipates that its financial performance will improve significantly in the second half… trading remains in line with market expectations for the year as a whole”, so why are the shares currently a further more than 12% lower on the day to below 30p?...
Previously writing on provider of technology-based training and support to the defence and regulated civilian sectors, Pennant International (PEN), last year with the shares down to 36p I noted its cash flow is clearly currently unsustainable and it is profitable orders conversion which is key. The company has now announced calendar year 2020 results including emphasising “a much-improved performance in the second half of the year” and “year-end order book stood at £31 million… of which £14 million of revenue… is scheduled for recognition within one year”. Why are the shares, at 38p, approaching 14% lower in response?...
Provider of technology-based training and support to the defence and regulated civilian sectors, Pennant International (PEN) previously updated last month, though a trading update for the first half of 2020 today sees the shares currently at 36p, more than 7.5% lower...