News blog

Penna Consulting

• BY: Andrew Hore |
• POSTED: 27/03/2013 |

Outplacement and human resources services provider Penna Consulting says that its 2012-13 results will be in line with expectations.

Penna did warn that the core business has been slightly slower in recent weeks. The smaller recruitment services division remained profitable even though the market has been tough.

Penna is getting rid its loss-making Swedish operation. The costs of disposal and trading losses will be provided for.

Allenby forecasts a full year profit £2.4m from continuing operations, compared with £1.76m profit for the whole group in 2011-12.

At 73.5p a share, Penna is valued at £19.1m. The shares are trading on 11 times prospective 2012-13 earnings, falling to nine in 2013-14. An unchanged total dividend of 2p a share represents a yield of 2.7%.

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