PNA.L Regulatory News (PNA)

7 Apr 2006 07:00

Penna Consulting PLC07 April 2006 Penna Consulting Plc Pre-Close Update Penna Consulting Plc ("Penna" or the "Company"), the Human Capital ManagementConsultancy, today issues the following pre-close period update ahead of theannouncement of its preliminary results for the year ended 31 March 2006, whichwill be announced in early June. Penna expects to report profits in line with market expectations. During theyear, the Company has restructured its core Career Transition business returningit to profitability while at the same time absorbing significant costsassociated with the start-up of a new business, Penna RecruitmentCommunications, which is expected to deliver growth going forward. During the year the Company also sold its 30% interest in a Canadian company,Knightsbridge Human Capital Management for £3.0 million in cash, realising asmall profit on the investment. While the market for Career Transition remains difficult, the Company can seefuture growth opportunities in other areas such as its Resourcing, Interim,Leadership Services and HR Consulting businesses. Gary Browning, Chief Executive Officer, said: "I am pleased with the progress wehave made this year in returning the Company to profitability whilst investingin a new business area- which represents significant opportunities for thefuture." Enquiries: Penna Consulting Plc 0207 933 8333Gary Browning, Chief ExecutiveDavid Firth, Finance Director This information is provided by RNS The company news service from the London Stock Exchange