Penna Consulting Share Discussion Threads

[stegrego] 06/6/2009 00:41

Hoodless:

Penna Consulting (PNA, 187.5p, £47.63m) Final results to March 2009 for the HR consulting group reported revenues up 30% to £63.2m (£48.5m) with pre-tax profits up 176% to £6m ( £2.2m), EPS up 185%b ton 17.1p (6p), net cash tripled to £8.88m (£2.96m) and a full year dividend of 6p (2p) with a final dividend of 4p (2p). The group reports the new year has started well. The group exceeded market forecasts, indeed almost matched the 2010 forecasts. The second half profits of £3.7m would imply a forecast up top £7.4m – which would suggest EPS around 20.9p, putting the group on 9x PER with a 3.2% historic yield and a progressive dividend policy. BUY to the 215p level

[bones30] 04/6/2009 00:50

Got to ask yourself why this fell to 150p...

I saw the anomaly and bought in. Glad I did.

Been watching this for a few months and before it dropped to 150p it looked a bit expensive.

Anyone know why it did drop?

[stegrego] 03/6/2009 12:56

Independent

Penna 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.

[stegrego] 03/6/2009 12:55

Times

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.

[serotine] 02/6/2009 09:27

yes excellent results and all looking good for future. Good to see no debt and strong cash generation.

Nice quiet BB too

[stegrego] 02/6/2009 07:57

Fantastic results, 17p as opposed to 15p revised broker forecasts.

They have already beaten next years forecast.

Should do very well going forward.

[stegrego] 08/5/2009 08:15

Bought a few today after the strong pullback for no good reason i can see.

Should be booming at the moment and for the next few years here id have thought.

Is now below the price before they announced in Feb they are materially ahead for the year.

Will suprise to the upside again IMO.

[serotine] 07/5/2009 04:10

fromtoday's Times

Tiddler to watch

Penna Consulting, which helps people facing redundancy with services such as retraining, fell 18p to 145½p despite Adecco, the Swiss recruiter, reporting a 65 per cent rise in revenue at its outplacement unit since the start of the year. Collins Stewart said it was confident that Penna's annual results in June would be strong.

[deeppockets] 11/11/2008 11:15

very strong results - keep it up!

[matt123d] 26/9/2008 09:10

NO SHORTAGE OF WORK FOR PENNA
Penna, the human resources consultancy, stands to benefit when times get hard for others, as seen from its shares
soaring 27 percent on Thursday. The jump came after the company said income from its career transition business, which
supports workers made redundant, was more than 20 percent higher than in the first half of last year. The group said
that overall it was performing substantially ahead of expectations.

[deeppockets] 25/9/2008 11:45

well well, nice to see someone doing well in this market!

[rocket47] 22/1/2007 21:13

will not get there sorry pictureframe think they are on the back foot the only way is done me thinks were is the bussiness coming from ??

[pictureframe] 11/1/2007 16:07

Hi Rocket,

I think long termers £1.50+ may be stung by taking it private/takeover. Hoskings bought a big chunck for 70p & hold much higher up, if it does get taken out it it will be between £1 & £1.50 imho

[rocket47] 06/1/2007 21:18

look to see were they have made the redundancies getting rid of big earners all seems like cost cutting to me still too many chiefs jeremy hosking me thinks is very close to mr rowlinson? not a good take over coming ???

[pictureframe] 21/11/2006 08:57

Rocket, things have changed since Rowlinson took over, there has been many redundancies including a lot of middle management. In fact many offices have now been closed down.

See Hoskins now holds a considerable stake in this and is adding

The Company was informed on 17th November 2006 that, following the acquisition
of 109,719 ordinary shares of 5p each ("Ordinary Shares") between 10 and 13
November 2006, Jeremy Hosking has an interest in 3,548,184 Ordinary Shares. This
represents 14.0% of the Company's current issued share capital.

[rocket47] 15/11/2006 19:20

to many chiefs not enough indian's me thinks

[rocket47] 15/11/2006 19:18

watch out for whitehead mann ?

[pictureframe] 15/11/2006 16:28

see another large delayed buy....seems to be everyday now

[pictureframe] 15/11/2006 14:21

ticking up again, will be interested to see if we get the big buyer again today.

[pictureframe] 15/11/2006 08:28

bought in today only a small position..been watching the trades and there have been some sizable buys. Dont forget the placing was a 70p !

[scotswhaehae] 07/11/2006 08:39

Looks like a long wait on trading grounds though...lol!

[scotswhaehae] 10/10/2006 08:21

Now on the move up again as the 'penny finally drops' that it is effectively 'in-play' as a takeout/recovery stock imho...

[pictureframe] 09/10/2006 15:42

I pointed out month ago the link with Hoskins. I still think PNA & WHT will merge.