Pennant International Revenue Jumps 31% in First Half, Reaffirms Outlook

Pennant International Group (LSE:PNIG) reported a 31% increase in first-half revenue and reaffirmed its full-year 2026 outlook, signaling confidence in a stronger second half driven by new contracts and product momentum.

First-Half Performance Improves

According to a company announcement on Monday, the UK-based software and training systems provider generated revenue of £5.9 million for the first six months of the year. The firm's profitability also saw a significant boost, with its gross margin expanding to 53% from 45% in the prior-year period.

The combination of higher sales and improved margin efficiency helped push the company's adjusted EBITDA into positive territory for the half-year, Pennant reported.

Outlook Bolstered by New Contracts

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Looking ahead, Pennant management stated it expects to meet full-year 2026 market expectations and anticipates that the second half of the year will be stronger than the first. The company attributed its optimistic forecast to an increase in business activity and emerging opportunities in its software division.

This positive outlook is underpinned by several recent strategic developments and product milestones. Key achievements in the first half include:

• Securing a global partnership with Siemens.
• Winning a contract award from the Canadian Department for National Defence.
• Receiving an order for a virtual training simulator from a UK-based air defence manufacturer.

Furthermore, the June release of its Auxilium phase 3 software is expected to enhance recurring revenue streams. The company also launched a new service, ConvertWise, and successfully completed its first sale to a North American military client.