Pennant wins West of England Share Challenge 2007
Pennant International Group plc ("Pennant"), the Cheltenham-based leading supplier of integrated logistic support solutions to the defence and industrial sectors, is delighted to announce that it has won the West of England Share Challenge 2007 AIM Share of the Year Award, co-sponsored by Blue Oar Securities and PriceWaterhouseCoopers.
The award, for the top performing AIM listed Company in the region was collected by Pennant Group Chief Executive Chris Snook at a Gala Dinner held at The Tortworth Court Hotel, Bristol. Pennant's share price performance showed an annual increase of over 104% for the twelve month period to 30 June 2007, finishing top of a list of more than 40 regional AIM listed companies which included Mears Group plc, Maxima Holdings plc and Jelf Group plc.
In April of this year, Pennant announced another year of increased profits and dividends and a further strengthening of its balance sheet. Group turnover increased by 7% and group operating profit by 38% compared to the previous period. The profits reflected a further improved cash position and a strong balance sheet while the forward order book at the year end grew by 25% on a comparable basis with the preceding year. The Company has also won several major newcontracts since the start of 2007.
Commenting on the award, Mr Snook said:
"It is very pleasing to see the Pennant share price reacting so positively to another strong performance by the Group over the past year. Although markets remain challenging I believe we have the skills, product range, and the focus on customer service that will enable the Company to progress further in the coming 12 months. On behalf of the Board of Directors I would like to thank all members of our staff for their continued commitment and endeavours in helping to win such a prestigious award."
L-R: Stephen Harrison, Regional Chairman, PriceWaterhouseCoopers; Chris Snook, Pennant Group Chief Executive; Nick Redfern, Head of Equities, Blue Oar Securities.
Enquiries:
Chris Snook, Group Chief Executive
Pennant International Group plc
Tel: 01452 714914
Paul Vann/Tom Cooper
Winningtons Financial
Tel: 0117 920 0092
Note: Pennant is a leading supplier of technology solutions to the defence and industrial sectors, including specialist software, technical data services and data management systems, simulation and training systems. Its customer base includes BAE Systems, Augusta Westland, and the UK MOD.
