The headline numbers in this morning's results are not new news, having already been flagged to the market in the company's update on August 13th. Rather, the new news is (1) cost-savings in excess of £1m, (2) post-period end contract wins which add around £2m to FY20E likely revenues, (3) breaking of some H1 logjams due to Covid, with key design reviews passed for General Dynamics and substantial invoices raised and paid. £2m net cash on the balance sheet previously flagged is confirmed, and ....
21 Sep 2020
WHI Morning Comment: Pennant International (PEN) - H1 results as previously flagged; savings £1m-plus, rising order book
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WHI Morning Comment: Pennant International (PEN) - H1 results as previously flagged; savings £1m-plus, rising order book
Pennant International Group plc (PEN:LON) | 28.5 -0.6 (-6.6%) | Mkt Cap: 10.5m
- Published:
21 Sep 2020 -
Author:
Nick Spoliar -
Pages:
5
The headline numbers in this morning's results are not new news, having already been flagged to the market in the company's update on August 13th. Rather, the new news is (1) cost-savings in excess of £1m, (2) post-period end contract wins which add around £2m to FY20E likely revenues, (3) breaking of some H1 logjams due to Covid, with key design reviews passed for General Dynamics and substantial invoices raised and paid. £2m net cash on the balance sheet previously flagged is confirmed, and ....