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Norman Broadbent to emerge stronger than ever from pandemic

Snapshot

  • Executive search, consultancy and solutions specialist 
  • Swings into a full-year profit
  • Cash flow protected by cost-saving measures during pandemic
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Quick facts: Norman Broadbent PLC

Price: 5.75 GBX

LSE:NBB
Market: LSE
Market Cap: £3.1 m
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What it does

Executive search still accounts for the majority of sales but customers are increasingly using the other services Norman Broadbent Plc (LON:NBB) provides.

It started as a traditional executive search firm but under the current management has added a number of divisions including solutions, interim management and consulting.

 

How it's doing

Business was slowed by the effects of the coronavirus pandemic but the firm believes it will emerge stronger than ever from the crisis

Search has seen the biggest slowdown but the reduction in revenues has been offset by cost measures taken.

Cash flow was protected by an increased emphasis on debtor collection in March, April and May

Continuing revenues increased by 22% to £11.5mln in the year to December 31, while the group swung to a pre-tax profit of £84,000 from a loss of £741,000 in 2018.

 

What the boss says: Mike Brennan, chief executive

"The early and decisive actions taken by us, combined with our broader portfolio of services, leaves us better placed to respond to these challenges than many. Similarly, our collaborative and innovative culture will stand us in good stead when compared to more traditional and siloed competitors."

 

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Norman Broadbent 'in a good position' after reporting first half profit

Norman Broadbent's (LON:NBB) Mike Brennan speaks to Proactive London's Andrew Scott after announcing the recruitment and consultancy firm will post an underlying profit for the half-year to June. Brennan says net fee income in the six months to June 30, 2020, declined by less than 10% compared...

6 days, 20 hours ago

2 min read