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Pennant International secures £3.75 million in new training contracts

Published 08/10/2025, 10:42
Pennant International secures £3.75 million in new training contracts
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LONDON - Pennant International Group plc (AIM:PEN) has secured two new contracts worth a combined £3.75 million for its Training Systems segment, the company announced Wednesday in a press release.

The larger contract, valued at £3.6 million, comes from BAE Systems Australia as an addition to an existing long-term agreement. Under this contract, Pennant will deliver five new training systems based on its Integrated Avionics Maintenance Trainer (IAMT) device. These systems will upgrade maintenance training capabilities and replace older training equipment currently supported under the agreement.

The project is scheduled to run for two and a half years with milestone-based payments structured to avoid additional working capital requirements. Revenue recognition is expected to occur over the contract duration in accordance with performance milestones.

The second contract, worth approximately £150,000, represents the initial phase of an interactive 3D graphical training package for a new European aircraft equipment OEM customer. This contract could potentially expand to £800,000 if additional phases are implemented. Pennant expects to complete the initial phase within six months.

In its September 16 interim results, Pennant had previously disclosed it was in advanced negotiations for potential contracts exceeding £10 million in total value. The company indicated that discussions regarding other opportunities, including a GenFly upgrade, are still ongoing.

Pennant International Group specializes in systems support software and training solutions for various industries.

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