PCL Pinnacle

 

TIDMPCL 
 
RNS Number : 4983W 
Pinnacle Staffing Group PLC 
29 July 2009 
 
?Pinnacle Staffing Group plc 
Trading Update 
Pinnacle Staffing Group plc, (AIM: PCL) the healthcare recruitment group, is 
today providing an update on trading for the six months to 5 July 2009 ahead of 
the announcement of its interim results on 24 September 2009. 
The Nursing Division, which comprises the BNA branches and the Mayfair and 
Grosvenor brands, has delivered returns in line with budget. Good progress at 
some BNA branches has unfortunately been offset by weak performances in others. 
Several new branches are currently being opened in areas of potentially strong 
demand and the underperforming areas are receiving attention. BNA's contract 
with the Bristol and Weston NHS Purchasing Consortium commenced satisfactorily 
in April, although subsequent revenue growth has been below expectations. This 
contract, although unlikely now to make a significant contribution to 
profitability, is of great importance in demonstrating the substantial 
cost-savings achievable by NHS Trusts under the PASA frameworks. 
Our doctors recruitment business has grown steadily since new management was 
introduced last year and has benefited from increased demand for junior doctors 
due to the requirements of the European Working Time Directive. Medical Services 
continues to perform poorly, mainly due to the lack of investment in recent 
years in developing a recruitment pipeline to bring qualified overseas 
candidates to the UK. 
The results for the six month period to 5 July 2009 are expected to show 
turnover slightly lower than in the comparable period last year at approximately 
GBP19.3 million producing a pre-tax loss in the region of GBP425,000 which is in 
line with the Board's expectations. A higher level of turnover is anticipated in 
the second half of the year and the Board still expects to be able to report a 
small profit for the year as a whole. 
For further information contact: 
Pinnacle Staffing Group plc 
Tom Charlton, Executive Chairman                                  01582 
395900 
David Hope, Chief Operating Officer & Finance Director 
Brewin Dolphin Limited (Nomad) 
 Matt Davis / Alison Barrow 
                          0845 213 4848 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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