Penna Consultng Share Price (PNA)

Penna Consulting (PNA) Director name: Mr Graham Paton Amount purchased: 20,000 @ 88.30p Value: £17,660

Penna Consulting (PNA) swung to a pre-tax loss for the full-year, hit by a drop in demand, and said it was planning ahead with caution. The international human resources consulting group announced a pre-tax loss of 4.2 million pounds for the 12-months ended 31st March 2011, which compares to a profit of 3.6 million pounds a year earlier, as revenue fell 26% to 80 million pounds. A final dividend of 1p per share was recommended, giving a total dividend for the full year of 4p, down from 7p a year earlier. The shares dropped 17.5p to 100p.

Commenting on the results and outlook, Stephen Rowlinson, Chairman, said: "Following the important changes in our organisation and cost structure we are confident that the company will remain profitable even if the current low level of demand continues in 2011/12. We are not expecting significant growth for our recruitment services during the coming year but the prospects for Human Resource Consulting and, in particular our outplacement services, are more encouraging. We are seeing a steadily rising trend in demand from the public sector for outplacement and we are clearly well positioned as the market leader in the UK for these services. We have won a majority of the contracts tendered by central and local government bodies to handle their downsizing programmes but it has proved difficult to forecast the rate at which these projects will be implemented and we are therefore planning with caution."

OPERATIONAL HIGHLIGHTS · New streamlined organisation under two divisions, Human Resource Consulting and Recruitment Solutions · Appointment of a new Managing Director for the Recruitment Solutions service group · Headcount reduced by 132 (27%) from 497 to 365 · Space costs reduced by £0.9m (18%) · Growing pipeline of public sector revenues for outplacement and related restructuring services · Continuing low level of demand for recruitment services in the UK

7 June 2011 Penna Consulting Plc (PNA:AIM), the international human resources consulting group, today announces its preliminary unaudited results for the year ended 31 March 2011. FINANCIAL HIGHLIGHTS · Revenue £80.2m (2010: £108.5m) · Net revenues £40.4m (2010: £50.9m) · Pre tax profits before non-recurring exceptional items £0.3m (2010: £7.3m) · Pre tax loss post non-recurring exceptional items £4.2m (2010: profit £3.6m) · Cash at year end £3.4m (31 March 2010: £5.3m) · Final dividend 1p (2010: 4p); total dividend for the year 4p (2010: 7p) · Diluted earnings per share (before non-recurring exceptional items) 0.95p (2010: 19.3p)

http://investegate.co.uk/Article.aspx?id=201106070700119601H