This morning's update from PEN reflects (1) good progress with the order book standing at £36m (up 9% vs. the year-end number cited in PEN's May 22nd business update, (2) a very creditable figure of £1m annualised cost savings, and (3) net cash at £2m, reflecting positive working capital movements and strong disciplines. In terms of net cash, this represents a £4m turnaround, which we view as an extremely positive result. This morning's news follows on from last month's conversion of the first ....
13 Aug 2020
WHI First Light: Pennant International (PEN) - Update highlights order book progress, £1m annualised cost savings and £2m net cash
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
WHI First Light: Pennant International (PEN) - Update highlights order book progress, £1m annualised cost savings and £2m net cash
Pennant International Group plc (PEN:LON) | 28.5 0 0.0% | Mkt Cap: 10.5m
- Published:
13 Aug 2020 -
Author:
Nick Spoliar -
Pages:
5
This morning's update from PEN reflects (1) good progress with the order book standing at £36m (up 9% vs. the year-end number cited in PEN's May 22nd business update, (2) a very creditable figure of £1m annualised cost savings, and (3) net cash at £2m, reflecting positive working capital movements and strong disciplines. In terms of net cash, this represents a £4m turnaround, which we view as an extremely positive result. This morning's news follows on from last month's conversion of the first ....