Aviation and training specialist announces revenues of £7.4m

A company which provides software and training support for the aviation industry has announces revenues of £7.4m.

Gloucestershire based Pennant International said revenues were up slightly over the last six months .

As a result adjusted EBITDA rose from £800,000 to  £900,000 in the first half of the year.

Further to the company’s announcement in May investment continues in the group’s proprietary integrated software suite, which has now been branded ‘Auxilium’.

Around £700,000 was invested during the first half of the year.

Unveiling the new  suite to industry will take place during the fourth quarter, with release of the full suite expected by year-end.

The firm is also continuing to progress several material sales prospects with a view to converting these into orders in the second half of the year.

The timing and size of these potential awards remains subject to contract and, in certain cases, the completion of processes at defence department and prime contractor level.

Chief executive Philip Walker said: “I am pleased to report ongoing progress in the business, and in particular, the investment in and development of our new Auxilium software suite, which we expect to launch in the second half of this financial year.”