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Pennant International Revenue Jumps 31% in First Half on Margin Gains, New Contracts
Pennant International Group (LSE:PNIG) reported a 31% increase in first-half revenue and improved profitability, leading the UK-based software and training firm to forecast a stronger performance in the second half of the year.
First-Half Performance
In a trading update Monday, the company announced that revenue for the first six months of 2026 reached £5.9 million. This growth was accompanied by a significant expansion in gross margin, which rose to 53% from 45% in the same period last year.
The combination of higher sales and better margins helped push adjusted EBITDA into positive territory for the period, Pennant reported. The results position the company to meet full-year market expectations.
Outlook and Strategic Wins
AdLooking ahead, Pennant anticipates that the second half of 2026 will be stronger than the first, citing increased business activity and new software opportunities as key growth drivers. The company's optimistic outlook is supported by several strategic developments and contract awards secured during the period.
Key commercial and product milestones include:
- The June release of its Auxilium phase 3 software, which is expected to enhance recurring revenue.
- A new global partnership with industrial manufacturing company Siemens.
- A contract award from the Canadian Department for National Defence.
- An order for a virtual training simulator from a UK air defence manufacturer.
Additionally, the company launched ConvertWise, a new technical publication conversion service, and completed its first sale to a North American military customer.