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Penna Results

Penna Consulting Plc the international human resources consulting group, has announced its unaudited interim results for the six months ended 30 September 2008.
− Revenue increased 29% to 28.9m (2007:22.5m) − Profits before tax quadrupled to 2.1m (2007:0.5m) − Fully diluted earnings per share (EPS) quadrupled to 6p (2007:1.4p) − Strong balance sheet with net cash of 5m and no debt − Interim dividend 2p per share (2007:nil)
Commenting on the results and outlook, Stephen Rowlinson, chairman, said:
I am very pleased to report some excellent results for the first half of the year. Performance has exceeded expectations and the interim dividend, expected to be 1 pence per share will now be doubled to 2 pence per share.
We are focused on increasing shareholder value and are optimistic about the future. All indications are that our Career Transition division, which accounts for 59% of the Groups net revenues, will experience further major expansion in the demand for its services in the coming months and years and we expect this to drive continuing growth of Pennas scale and profitability.


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