LONDON (ShareCast) - - Full-year profit rises 40 per cent
- Wins a string of major contracts
- Confident for future trading, lifts dividend payment 30 per cent

Training services firm Pennant International booked a 40 per cent surge in annual profit and, with a string of major new contracts, looks ahead to future trading with confidence.

The group, makes training simulators and computer based training for military and commercial aerospace, said pre-tax profit rose to £2.25m for the year ended December 31st from £1.6m while revenue rose 29% to £18.7m.

Basic earnings per share increased by 44% to 6.43p. Pennant said new orders taken during the year are worth in excess of £20m.

Chairman Christopher Powell highlighted that it had won a number of major new contracts, including a £16m 5-year contract by BAE Systems Australia on behalf of Australian Defence Force to supply and support a suite of training aids.

"These opportunities, together with the size and visibility from the current order book give confidence for the future," the group said.

Pennant has proposed a final dividend of 1.8p a share, from 1.4p, taking the total to 2.6p, from 2p.

CJ

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