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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Penna Consultng | PNA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 365.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 365.00 | 365.00 |
| Top Posts |
|---|
Posted at 13/11/2015 15:20 by proactivest Video interview with Mitol's Gervais Williams re: Penna investmentGervais Williams, veteran fund manager and small-cap stock specialist at Miton Group (LON:MGR) explains why he still believes the UK’s AIM market offers the best growth prospects for long-term investors. FTSE 100 companies and other large cap players around the globe which thrived during the credit boom have struggled since and will continue to do so, he reckons. Meanwhile, Williams claims the best opportunities are to be found in smaller, cash generative firms with a progressive dividend policy. This week Miton Group took a 3.35% stake in the palm oil specialist DekelOil (LON:DKL). Williams also favours HR specialist Penna Consulting (LON:PNA). |
Posted at 09/6/2015 08:01 by battlebus2 During the year we made significant investments in building our professional teams and in providing them with an outstanding working environment and leading edge technology.The business has considerable momentum and if the UK economy continues to grow strongly we expect to see a dramatic rise in volumes and in expenditure per HR project. Penna's businesses generate cash and we ended the year with GBP2.3 million (2014: GBP0.9m) and no debt having invested GBP1m in new facilities, paid dividends of GBP0.9m and purchased over GBP0.4m of our own shares. Therefore, in an environment where investor returns are challenged, I am pleased to report that we remain committed to a progressive dividend policy and the Board is recommending a final dividend of 4.0 pence (2014: 1.5 pence) to make a total dividend of 6.0 pence (2014: 3.0 pence) for the year. If approved at the Annual General Meeting, the final dividend will be paid on 19 November 2015, to shareholders on the register on 23 October 2015. |
Posted at 10/8/2012 10:24 by pictureframe Stephen Rowlinson 29.7%Jeremy Hosking 17.3% Henderson Global Investors 10.8% Suzie Mummé 8.6% Liontrust Asset Management 7.7% Artemis Investment Management 4.0% Majedie Asset Management 3.5% Wonder what Mr Hosking is up to - holds a sizeable stake. Buying in here give you opportunity to get in way below what Rowlinson/Hosking paid. |
Posted at 02/2/2011 15:11 by pictureframe Wow looks like some institutional investor has had enough cant see a private investor holding that much. Look at those huge sells going through. How the price is holding up I dont know! |
Posted at 14/12/2009 18:45 by stegrego GCIRecession, and the resulting upheaval in the jobs market, has lately played into the hands of City-based Penna Consulting, a human resources services specialist with market-leading skills in 'outplacement', the process of helping to find new gainful employment for workers that have been made redundant. As this severest of recessions runs its course, the AIM-quoted group's counter-cyclical outplacement operations will continue to deliver growth. However, following June's acquisition of recruitment business Barkers from the administrators for £8.6 million cash, which doubled the company's size, Penna is as well placed to benefit from upswing in the economic cycle as it has been in past periods from downturn. Established back in 1974, by founders who actually formulated the outplacement concept, Penna is a highly diversified concern with a strong recent track record. Under CEO Gary Browning, the strongly cash-generative, dividend-paying company is pursuing an ambitious and clear strategy that should result in further organic growth. Financially strong, Penna is also scouting for further sizeable acquisitions in the human resources services space. Strategy UK focused, but able to deliver internationally, Penna is on a strategic mission to help organisations improve performance through their people. Its service range spans the entire employment lifecycle and includes advertising communications and recruitment. In fact, the company is the biggest UK recruitment advertising agency, helping long-term clients in both the public and private sectors to attract candidates using print and, increasingly, digital means. Penna also recruits executives and supplies executive interims (its executive interim team is the UK's second biggest) and has benefited from its focus on the public sector throughout the downturn. As the economy picks up, it plans to expand into commercial sectors. Further services include board and executive coaching, as well as leadership and performance consulting. Pleasingly, the coaching side of the business, which could be viewed as a somewhat discretionary service, has held up rather well. According to the enthusiastic Browning, 'A lot of the banks now use coaching and it has maintained its revenues. We advise clients not to cut that because it is an investment.' Penna is perhaps best known in City circles for its 'career transition' offering, more commonly known as 'outplacement', a part of the business that has been going great guns amid the downturn. 'Basically, everything we do is sold to HR [human resources],' explains Browning. 'We have over 2,000 clients, including 70 per cent of the FTSE 100, and cross-selling is a key part of our strategy.' The customer roster is both impressive and diverse, littered with names including Alliance Boots, Alcatel, Bank of America, BT, BAE Systems, ITV and PC World. Over in the public sector, DEFRA, the Department for Constitutional Affairs (DCA), the Home Office, the Learning and Skills Council and even the Police Service of Northern Ireland are just some of the procurers of its services. Hitherto, the company has been best known for outplacement, whereby it supports individuals and organisations through downsizing and other workplace changes, proffering expert advice and ensuring people affected by redundancy are supported as they look for new work, while helping employers with the implementation of redundancy programmes. Needless to say, amid the worst recession for generations, the outplacement business has proved the key growth driver and should continue to grow for the next two to three years. This is because unemployment continues to rise as you come out of a recession. 'We have been known to date for outplacement and we are not ashamed of that,' says the loquacious Browning. 'It has driven our growth and we are UK number one with a 34 per cent share. But with Barkers, we decided to break this cycle once and for all. Barkers, the oldest advertising agency in the world, was close to a £100 million business a few years ago and it fills that hole in our strategy'. By buying Barkers, a sound and profitable operation bought from the administrators of BNB Recruitment Solutions, Penna transformed its previous bias towards outplacement. Now, 25 per cent of revenues are generated from outplacement and 75 per cent from recruitment-related business, ensuring that in the next upswing Penna won't be disadvantaged by being 'sub-scale' in recruitment. Contributing £16.4 million of sales in Penna's first half to September, the Barkers acquisition has brought in complementary services, while widening the client base. Looking to the future, Browning says, 'We want to do more substantial acquisitions, possibly in the areas of training and development. But they need to fit well, have a brand and be substantial'. Management In the CEO hot seat is the affable yet determined Gary Browning, a qualified accountant who joined Penna in 2002, was made director of operations in 2004 and then joined the board in early 2005. A University of Warwick graduate whose earlier career included a 12-year stint with advertising and marketing giant WPP, Browning has big ambitions for Penna and continues to cast his eye over suitable acquisitions to help the business grow. When not diverting his energies into Penna's profitable growth story, he is a passionate supporter of Liverpool Football Club. Overseeing developments from the chair is the experienced Stephen Rowlinson, who was chief executive of Sanders & Sidney (Penna in its previous guise) in the early 1990s and whose CV includes work with McKinsey. Rowlinson joined the Penna board in late 2004 and assumed the chairmanship in February 2005. Overseeing the numbers Penna has pleased analysts with its recent tight control of costs is David Firth, who earned his accountancy spurs with Thomson McLintock in 1985 and joined the Penna board in the second half of 1999, having previously been the finance director of Parity Plc. On the non-executive side, management can call upon the advice of the seasoned Sir James Harvie-Watt, who joined the board in 1995 and was previously managing director of Wembley Stadium Ltd and a director of other leisure sector companies. The group's second non-executive voice is qualified barrister Richard Stillwell, whose credentials include a 26-year career with chemicals giant ICI. Stillwell, who joined the board in 2002, also acts a non-executive director at non-woven fabrics producer Fiberweb and printing group St Ives. Prospects Prospective investors are buying into a business with a proven, profitable business model and excellent growth prospects. Having reported 176 per cent growth in pre-tax profits for the year to last March, Penna recently unveiled sparkling half-year figures to September, achieved in spite of the distractions of the Barkers deal. Sales were increased 68 per cent to £48.4 million and pre-tax profits, before one-off acquisition costs, improved 56 per cent to £3.5 million. Even stripping out the transformative Barkers, like-for-like sales grew 11 per cent to £32 million and pre-tax profits were upped 47 per cent to £3.4 million, driven by improving margins and tight cost controls. With its portfolio of businesses continuing to generate cash, Penna closed the half with zero bank debt and £6.7 million cash in its coffers, allowing management to propose a 50 per cent increase in the interim dividend to 3p per share. Prospects remain upbeat in the counter-cyclical outplacement business, where Penna is supremely well placed as the UK's biggest career transition player and where visibility is decent, with services typically procured under two- to three-year deals. The outplacement operation grew by 28 per cent in the first half and is likely to thrive throughout 2010 and 2011 as the recession rumbles on. Significantly, although demand for outplacement grows through periods of recession, as companies and organisations downsize, activity levels continue through periods of economic growth and may even surge during an M&A boom. And even if economic upswing results in slower growth in outplacement, the newly enlarged recruitment operations should pick up the pace and take over as the group'sgrowth engine. Penna has the financial firepower to pursue any suitable, sizeable, acquisitive possibilities that may arise and is particularly well positioned to capitalise on the inexorable rise of digital advertising in the human resources services markets. Valuation For the current year to March, Collins Stewart forecasts a leap in sales from £63.2 million to £111.4 million, which should yield a healthy EBITDA rise from £6.4 million to £8.2 million. Next year, sales have the potential to approach £135 million and EBITDA £11.5 million. Earnings are forecast to increase to 21.2p (2009: 17.9p) this year, representing growth of 18.5 per cent, ahead of another increase to 28.9p by 2011 (an earnings growth rate of more than 36 per cent). Based on these estimates, the shares represent compelling value, even after a very strong performance in the year to date. They are changing hands for 12 times forward earnings, a rating that reduces to 8.8 on next year's EPS prediction. Moreover, the shares trade on lowly PEG ratios of 0.64 and 0.24, further bolstering the investment case. As well as trading on reasonably undemanding earnings multiples, Penna offers investors progressive dividend payments. Following a successful year to March, during which cash tripled to £8.88 million, the full-year dividend was upped from 2p to 6p, while the more recent interim payout, as mentioned earlier, was upped 50 per cent to 3p per share. With all these investment pluses in mind, the present rating looks undercooked for a company with the financial flexibility to complete further earnings-accretive deals net cash balances are £6.7 million and whose growth prospects have been much improved in the wake of the astute Barkers buy. |
Posted at 03/6/2009 12:56 by stegrego IndependentPenna Consulting Our view: Hold for now Share price: 187.5p (+20p) Never let it be said that a recession is wholly bad for business. Penna Consulting, a human resources company, posted impressive full-year results yesterday, with profits up a striking 176 per cent. All-importantly, the total dividend will rise 6p, up from 2p last year. How so? Its chief executive, Gary Browning, says that the creeping unemployment rate has helped as client companies have asked Penna to advise on strategy with fewer people, while the group has also helped customers to move to less costly locations. For investors, the dividend hike alone will attract some. Buyers should be aware, however, that until yesterday's 11.9 per cent jump in the share price, the market's appreciation of the group had cooled after the shares spiked in February when Penna said that its annual numbers would beat expectations. We would worry that the stock will slide after the hullabaloo of yesterday's numbers dies down. We do agree with the house broker, Collins Stewart, when they say that trading on a 2009 price-earnings ratio of 8.6 times is hardly demanding, but we are not sure the shares will garner enough support to reach the watchers' target of 280p. Generally speaking, investors should back winning stocks, but we would be tempted to wait to see if the shares fall back after yesterday's gains before buying. |
Posted at 28/9/2006 13:10 by scotswhaehae Have you spotted that Jeremy Hosking bought 450000 WHT on Monday and Tuesday above the current bid level from the MBO boys...Will he join PNA and WHT to the benefit of us investors... He has 12.69% of PNA and 4.21% of WHT... Interesting times...watch this space! |
Posted at 06/6/2003 08:04 by pictureframe morning all,agreed this looks like a flyer today. Rocket, Rowlinson now owns more stock thany ANY other investor, according to my research as follows Aberdeen Assett 7.7% HSBC 4.7% Merrill 4.5% Other less than 4.5% Only other shareholder who come near is Susan Mummie who owns 3,338,000.00 shares. Something is definately brewing ! |
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