Update; contract wins add support to FY2020E
Two announcements from PEN this morning partially fill in contours of FY2019E and apprise the market of contract wins respectively. In terms of the year just concluded, likely reported figures look to be marginally below our forecast. However we read this as the net effect of investment in the company as it gears up for a major anticipated contract (the so-called “down-select”) as against costs which have been taken out (£1m-plus gross, but c.£0.6m n ....
03 Feb 2020
WHI Morning Comment: Pennant International (PEN)
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WHI Morning Comment: Pennant International (PEN)
Pennant International Group plc (PEN:LON) | 28.5 0 0.0% | Mkt Cap: 10.5m
- Published:
03 Feb 2020 -
Author:
Nick Spoliar -
Pages:
4
Update; contract wins add support to FY2020E
Two announcements from PEN this morning partially fill in contours of FY2019E and apprise the market of contract wins respectively. In terms of the year just concluded, likely reported figures look to be marginally below our forecast. However we read this as the net effect of investment in the company as it gears up for a major anticipated contract (the so-called “down-select”) as against costs which have been taken out (£1m-plus gross, but c.£0.6m n ....