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Penna Consulting Interim Results for the six months ended 30 September 2012

Penna Consulting Interim Results for the six months ended 30 September 2012

Penna Consulting Plc the international human resources consulting group, today announces its interim unaudited results for the six months ended 30 September 2012.

FINANCIAL HIGHLIGHTS

&middot Revenue &pound33.1m (2011: &pound34.2m) and net revenues &pound19.5m (2011: &pound18.9m)

&middot Pre tax profits &pound0.8m (2011: &pound0.8m)

&middot Cash at period end &pound1.5m (2011: &pound1.7m)

&middot Earnings per share 2.4p (2011: 2.4p)

&middot Interim dividend 1p (2011: 1p) payable on 7 March 2013

OPERATIONAL HIGHLIGHTS

&middot Continued strong management focus on cost control has resulted in margin improvement

&middot Ranked as the number one provider of outplacement services in the UK for the sixth year running

&middot Recruitment solutions seeing increased volumes in both public sector Search revenues and across its Interim business

&middot Establishment of Career Star Group in April 2012 - a network of 17 leading outplacement partners, covering 44 countries, with 470 offices and 1,700 consultants

Commenting on the results and outlook, Stephen Rowlinson, Chairman, said: "We are now seeing the first very tentative signs of growth in underlying demand. However, it is much too early to judge whether this will become a continuing trend. Everything depends on the level of confidence among our clients and this in turn depends on how events in world markets develop. Penna has shown resilience during the recession and remains well positioned for the upturn when it finally comes."

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