This morning’s update from PEN highlights changes to a major contract (Ajax) – which is growing but also partly moving sideways. Combined with extra costs arising from the expansion of the business, this results in significantly lowered expectations. The order book remains steady at £36m and the immediate bid pipeline contains significant opportunities. As anticipated 2019 is H2-weighted, with losses in H1 given the operations of IFRS15. PEN has been highly active in the past 6-18 months in expa ....
09 Aug 2019
Morning Comment
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Morning Comment
Pennant International Group plc (PEN:LON) | 28.5 -0.6 (-6.6%) | Mkt Cap: 10.5m
- Published:
09 Aug 2019 -
Author:
Nick Spoliar -
Pages:
4
This morning’s update from PEN highlights changes to a major contract (Ajax) – which is growing but also partly moving sideways. Combined with extra costs arising from the expansion of the business, this results in significantly lowered expectations. The order book remains steady at £36m and the immediate bid pipeline contains significant opportunities. As anticipated 2019 is H2-weighted, with losses in H1 given the operations of IFRS15. PEN has been highly active in the past 6-18 months in expa ....