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Penna Pushes Profits Up.

Penna Pushes Profits Up.

Penna Consulting Plc, the international human resources consulting group, today announces its preliminary unaudited results for the year ended 31 March 2013.


&middot Revenue &pound66.6m (2012: &pound67.6m)

&middot Net revenues &pound38.3m (2012: &pound38.3m)

&middot Pre tax profits &pound2.2m (2012: &pound2.0m)

&middot Net cash at year end &pound2.4m (31 March 2012: &pound2.0m)

&middot Final dividend 1p (2012: 1p) total dividend for the year 2p (2012: 2p)

&middot Diluted earnings per share 7.5p (2012: 6.8p) from continuing operations


&middot Pre tax profits of continuing businesses up 11% despite flat overall revenue

&middot Recruitment solutions returns to profitability with 9.4% growth in net revenue

&middot UK No1 position in outplacement retained for the sixth year running

&middot Career Star network now in 66 countries, 770 offices, with 1800 consultants

Commenting on the results and outlook, Stephen Rowlinson, Chairman, said:

" I am pleased to report that despite flat revenue resulting from continuing weak market conditions Penna delivered 11% growth in profits before tax from continuing businesses.

The current financial year has started well and current trading remains in line with management's expectations. Our recruitment teams have seen some tentative signs of recovery in the markets we serve but overall the UK economy remains characterised by caution and restraint. We are planning on the basis that the economy will show only weak growth in the current year. Our approach ensures that even in challenging conditions Penna will continue to be profitable and cash generative.

However, we are ready to respond immediately to recovery and our cost and margin structure will deliver substantial incremental profits from relatively modest increases in revenue."


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