Penna Consulting announces profitable year

Penna plc, today announced a return to profitability for the business with an increased turnover of 7 per cent to 44.6 million, resulting in pre-tax profits of 2.6 million (loss of 6.4m last year).

Announcing the preliminary results for the year ended March 2006, Penna Chairman, Stephen Rowlinson, said: ìI am pleased to report that the business has returned to profit, maintaining revenues and improving margins whilst significantly reducing costs through the implementation of a new operating structure.î

Listed 28th in the Sunday Times 100 Best Places to Work, Penna has undergone considerable reorganisation in the last year including the creation of six distinct business areas. These are: Resourcing, Recruitment Communications, Executive Interim, HR Consulting, Leadership Services and Career Transition.

Recruitment Communications, added to the Penna portfolio of services in 2005, offers a full range of recruitment advertising and employee communications services through printed media and the internet. In its first year of operations this business has already attracted a number of key long-term clients including the NSPCC, Mencap, RNID and Hyde Housing Group.

Gary Browning, Chief Executive Officer, Penna plc, adds: ìThis has been a very successful turnaround year for Penna achieved not least through the hard work of our staff and also through our re-organisation. As a human capital management specialist, we know that many factors are involved in a successful business; particularly we believe that staff engagement is an essential element leading to greater productivity, which affects the bottom line. In the last year we have carried out an extensive engagement programme, which has included leadership coaching, clearer communications, greater visibility of managers, performance management and a more open management style. I have no doubt that practising what we preach has played a part in our results today.

ìWe have ambitious plans for Penna in the year ahead and look forward to further growth in each area of our business,î added Browning.