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View All NewsUK – Penna Consulting’s growth exceeds expectations
International human resources consulting group Penna Consulting (PNA: LSE), in its trading update released today, announced that growth in revenue and profits before tax (PBT) for the first quarter of the financial year (April to June 2014) materially exceeded their management’s expectations.
Revenue for the first quarter is reported to have increased by +24% to £10.4 million during the first quarter of the financial year compared with £8.4 million last year. PBT more than double by +116% to £1.2 million during the period, compared with £57,000 a year ago.
Penna’s Recruitment Solutions division reported revenue growth of +34% to £4.5 million, up from £3.3 million in 2013. PBT for the period increased by a staggering +610% to £780,000, up from £11,000 a year ago.
The company’s Career Services division reported growth of +24% to £4.9 million, compared with £3.9 million last year. PBT for the division grew by +13% to £97,000, up from £86,000 a year ago.
Investors reacted positively to the trading update, with the share price increasing by +14.9% to £1.35, an increase of +74.8% compared with a year ago. Based on its current share price, the company has a market value of £34.7 million.