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Penna Consulting announces trade update

"We are pleased to confirm that the integration of the Savile group businesses into Penna has been completed ahead of plan.  The transition of clients across to Penna has been achieved and the removal of duplicative costs is complete.  As a consequence we are very pleased to report that the acquisition has made a positive contribution to the company's results for the year.

"Following the completion of a major long term contract our operation in Northern Ireland was trading at a loss and has now been closed. The costs of closure and losses incurred this year will be fully provided for at the year end.

 "We are pleased with the overall performance of our HR Consulting division and the continuing positive momentum in our Recruitment Solutions division. The Board therefore expects that continuing operations will show performance marginally ahead of the Board's expectations. We will announce results for the year early in June 2014."



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