PENN PHARMACEUTICAL SERVICES LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After making reasonable enquiries and assessing forecasts (up to 31 December 2026) including severe, but plausible and downside scenarios, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. This assessment takes into account the recent change in ownership, as detailed in Note 27, which has not adversely affected the group's or the company's financing and / or going concern status. The Group and its subsidiaries (which includes Penn Pharmaceutical Services Limited) has financing and facilities which includes a $400M revolving line of credit which is not forecast to be utilised and is part of the available liquidity should the company or group need it. The Group has also provided a letter of support to the company and confirmed its intentions to provide financial support as is necessary for a period of at least 12 months from the date of signing these financial statements. Having taken all of the above considerations into account, the directors have determined that the financial statements should be prepared on a going concern basis”

Significant events

• “On 11 July 2025, the current owners of the Parent Company (KPCI Holding Ltd.) entered into a recapitalisation agreement with Maverick Intermediate Holdings Limited (buyer), valuing the Group at approximately $9.8bn. Following regulatory approval, the recapitalisation took place on 15 October 2025.”
• “Also on 15 October 2025, as a part of the recapitalisation of the Parent Company, the Company borrowed $80,000,000 less fees of $1,244,653, for net borrowings of $78,755,347 (£59,074,385 at a rate of 0.7501). A dividend was then issued for £59,074,385 to the Company's immediate parent PCI Penn UK Holdco Limited, which was ultimately distributed to the ultimate parent KPCI Holdings Ltd. as a part of the recapitalisation transaction.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +4.4%

  £50,492,000 → £52,689,000

• Cash

  -100%

  £202,000 → £0

• Net assets

  +5.8%

  £69,951,000 → £73,985,000

• Employees

  -0.6%

  492 → 489

• Operating profit

  -68.3%

  £8,109,000 → £2,572,000

• Profit before tax

  -50.7%

  £9,450,000 → £4,658,000

• Wages

  +4%

  £19,291,000 → £20,057,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers