||EPS - Basic
||Market Cap (m)
|interceptor2: You should receive the proceeds within 14 day of 10th May, see link below.
|jimbobjames2002: From IC:
"IC TIP UPDATES:
We’re less than three months into 2016 and our takeover tip of the year appears to have come good. Swiss HR giant Adecco this morning made an all-cash offer for outplacement specialist Penna Consulting (PNA), though no premium was given to the current share price. The board has recommended the deal and 68 per cent of shareholders have already signalled their approval, though hopeful of a counter-bid, we’re advising shareholders to sit tight."|
|battlebus2: You only think it's a low ball offer because we've had a leaky ship and a rising share price for weeks when all around was red. Signals that usually mean a take out. This was always the scenario and reasoning behind my investment here. Sorry I took some profits before I realised what maybe happening. Still cheap going forward but up with events at 365 today. There is of course a high possibility another buyer will appear so wait and see IMV.|
|battlebus2: Doesn't take much buying to cause a quick rise in the share price...|
|battlebus2: Not sure if this has been mentioned before but worth another post anyhow.
Penna shares tempt Gervais Williams
Citywire AA-rated small cap expert Gervais Williams has opened a position in recruitment and human resources company Penna Consulting (PECO) as its shares have rocketed to a five year high.
Williams has 2.5% of the business worth £1.4 million at a share price of 223p, up 54% over the last three months and 184% over the last two years.
Shares in Penna climbed more than 13% in a single session in early June as it reported a 70% increase in profits to £4.6 million, and doubled its full-year dividend to 6p.
Despite the rapid climb, Williams said it remained keenly priced. ‘The business is greatly undervalued especially as it is well-placed to deliver an attractive level of growth,’ he told Citywire.|
|battlebus2: On any normal measures the share price should be double what it is now but given it's low rating bigger fish most have noted yesterdays results, consolidation is still to the fore in the sector.|
|qs99: nope, have joined. Net cash, increasing profits, increasing share price to help fund acquisitions, increasing EPS and good momentum and management delivering on promises....all seems pretty sensible IMO...!|
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.|
Companies don't come any more counter-cyclical than Penna Consulting: annual profits and dividends up threefold and a cash pile and share price that have doubled on the year.
Its niche? Career transition services, otherwise known as outplacement, or helping sacked workers find new jobs. But Penna's attractions extend beyond the fact that it is plying a trade that booms in bad times. It is steadily winning business from rivals: its market share has risen to 34 per cent, from 26 per cent two years ago. It has also cast its net wide, catering for directors and rank-and-file staff alike. That has helped Penna to pick up an exclusive contract to handle outplacement for Lloyds Banking Group and provided protection as job cuts have spread from financial services to lower-salaried sectors of the economy, such as manufacturing, automotive and retail.
Its activities outside outplacement are also faring well. Penna serves as a recruitment agency for relocating employers and has benefited from government measures to move agencies, such as the Qualifications and Curriculum Authority, outside of London.
Yesterday's 20 per cent upgrade to its profit forecasts should provide sufficient momentum for now. The longer-term draw for shareholders is that unemployment tends to carry on rising long after GDP has returned to growth. At 192½p, up 25p, or nine times current-year earnings, hold on for more.|
|shadowside: At current price these look quite interesting. Turnover 4* market cap which always interests me. Low net debt. Cash to cover divi for a few years. They paid high for aquisitions but a lot was in shares or converted loan notes so at todays share price they bought cheap and from what I know of businesses they were quality. Excellent web site!! Results due tomorrow I think. One to tuck away in bottom draw.|
Penna Consulting share price data is direct from the London Stock Exchange