Pennant’s shares drop after MoD contract delay
Software and training company Pennant International has warned revenues will be "commensurately lower" than expected this year after a key Ministry of Defence contract was hit by delays.
Its share price opened down more than 20%, before recovering slightly to be around 14% lower by mid-morning.
The GenFly contract was earmarked to deliver 15% of the company's annual sales. But the expected August award date of the contract has now been pushed back to "Q4 2025 or later", resulting in the income slipping into next year.
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