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Pennant International ( (GB:PEN) ) has provided an announcement.
Pennant International Group has announced the disposal of a warehouse unit at its Staverton site for £0.83 million, as part of a broader strategy to streamline its Training Division. This disposal, along with additional planned sales at the site, aims to reduce the company’s overdraft borrowings and provide additional borrowing headroom, signaling a strategic move towards enhancing financial flexibility and supporting its long-term growth in high-margin software and services.
More about Pennant International
Pennant International Group plc is a global leader in system support software and services, technical services, and training solutions, catering primarily to sectors such as Aerospace, Defence, and Rail, as well as other safety-critical markets like Shipping, Nuclear, and Space. The company operates through three business segments: Software, Technical Services, and Training Systems, focusing on sustainable growth through recurring and repeatable revenues. With headquarters in Cheltenham, UK, Pennant International serves regulated industries worldwide with high barriers to entry.
YTD Price Performance: -1.79%
Average Trading Volume: 54,913
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £11.89M
See more data about PEN stock on TipRanks’ Stock Analysis page.