3rd Feb 2005 11:18
Penna Consulting PLC03 February 2005 Penna Consulting plc (the "Company") Appointment of Chairman 3 February 2005 The Board of Penna Consulting Plc today announces the appointment of StephenRowlinson as Chairman with immediate effect. Sir James Harvie-Watt will remain as a non-executive Director and Chairman ofthe Audit Committee. The business review of the organisation and infrastructure needed to meet clientdemands and create a more efficient business has been completed. The Companywill now be organised under 12 regions and a slimmed down administration. Thiswill provide both enhanced service to clients and overhead cost savings of over£3 million per annum. The current year to 31 March 2005 has been a period of significant change andthe delivery of several large contracts has been extended beyond the fourthquarter. Consequently, profits before exceptional items for the year areexpected to be nominal. However, Penna will enter the new financial year witha low cost base, which will ensure a good level of profitability at currentturnover levels. Contact: Stephen RowlinsonSuzie MummeDavid Firth 020 7460 9051 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PNA.L