23rd Jul 2014 08:51
LONDON (Alliance News) - Penna Consulting PLC shares surged higher Wednesday after it said both revenue and pretax profits came in ahead of expectations in the first quarter to end June.
Penna Consulting shares were up 15% to 17.50 pence on Wednesday, putting them among the top five risers on the London main market.
Revenue rose 24% to GBP10.4 million, up from GBP8.4 million a year earlier, while pretax profit jumped 116% to GBP1.23 million, up from GBP0.57 million.
The biggest boost for the company came in its Recruitment Solutions arm, which saw a 34% rise in revenue to GBP4.45 million, pushing pretax profits up 610%.
The Career Services business saw revenue rise 24% to GBP4.87M and pretax profit increase 13%.
The firm's two smaller units, Talent Management and Penna España, are currently in turnaround and produced a combined loss of GBP0.28 million.
By Sam Unsted; [email protected]; @SamUAtAlliance
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