PEN has published strong results this morning as foreshadowed in its January trading update, with profits well ahead YoY and as much as £1.9m net cash on the balance sheet at the year end. As anticipated, the biggest contribution was made in the first half, which delivered two thirds of FY2018A profits. Today’s announcement highlights the successful completion of the two major Middle East contracts last year; the conversion of the major Qatar contract (£10m), ongoing currently and off to a good ....