Cheltenham’s Pennant posts half-year revenues of £7.4m

Pennant International Group, a systems support and training solutions firm based in Cheltenham, has shared a positive trading update for the six months ended 30 June 2024.

The company has posted revenues of £7.4 million for the period – up from £7.1 million in H1 2023 – and slightly boosted its gross margin to 48 per cent.

Investment continues in Pennant’s upcoming integrated software suite, Auxilium.

The group has progressed a number of material sales prospects, with a view to convert these into orders in the second half of the year.

It also welcomed a recent pledge from the new Labour government to increase UK defence spending to 2.5 per cent of GDP.

Group CEO Philip Walker said: “I’m pleased to report ongoing progress in the business – in particular, the investment in and development of our new Auxilium software suite, which we expect to launch in the second half of this financial year.”