Connecting to LinkedIn...


Penna's Q1 PBT more than doubled to 1.23 million

"Unaudited management accounts for the quarter show revenue 24% higher than the same period of last year and profits before tax more than doubled to &pound1.23 million.

"The major advance was in our Recruitment Solutions division which achieved a 34% growth in revenue to &pound4.45 million (2013/14: &pound3.32 million) and a 17.5% operating margin (2013/14: 3.3%) to produce 610% growth in profit before tax to &pound0.78 million (2013/14: &pound0.11 million) for the quarter.

"Our market leading Career Services division grew revenue by an impressive 24% to &pound4.87 million (2013/14: &pound3.94 million) and profit by 13% to &pound0.97 million (2013/14: &pound0.86 million). Operating margin was 19.9% (2013/14: 21.8%). This performance demonstrates clearly that while Career Services has counter-cyclical merits it can also grow powerfully in an economic upswing.

"Our smaller divisions, Talent Management and Penna Espa&ntildea, are in turn-around mode and together produced a loss of &pound0.28 million (2013/14: &pound0.118 million). Central Plc costs in the quarter were &pound0.24 million. (2013/14: &pound0.22 million).

"Overall, revenue in the quarter was 24% higher at &pound10.4m (2013/4: &pound8.4m) and profit before tax was 116% higher at &pound1.23m (2013/14: &pound0.57m).

"The Penna team are to be congratulated on delivering these excellent results."


Articles similar to

Articles similar to