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Penna Consulting

  • BY: Andrew Hore |
  • POSTED: 30/10/2013 |

Helium Special Situations has nearly doubled its stake in outplacement and human resources services provider Penna Consulting to 4.77%.

The purchase follows last month’s positive trading statement when the chairman Stephen Rowlinson said that trading was in line with expectations margins and revenues are improving in recruitment and the outplacement operations are making substantial profits. Important contracts have been renewed and new contracts won, which augurs well for the next financial year.

In the year to March 2013, Penna reported a pre-tax profit of £2.2m on net revenues of £38.3m. A total dividend of 2p a share was paid. Net cash was £2.4m.

At 86.5p a share, Penna is valued at £22.1m. The share price is around two-thirds of the level it was three years ago. The shares are trading on less than 12 times last year’s earnings and yield 2.3%.

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