What it does
It started as a traditional executive search firm but under new management it added a number of divisions including solutions, interim management, consulting and executive search.
How it is doing
The group returned to profit in 2019 on the back of a 22% increase in revenues to £11.5mln from £9.4mln in 2018.
Group net fee income climbed 15% to £7.6mln from £6.6mln the year before.
The turnaround had already been demonstrated in the first half, when it reported an operating profit of £55,000, swinging from a £234,000 loss in the prior year.
In early March, the company expanded its operations in Northern England with the opening of a new office in Cheshire county, which it said was in response to “increasing client demand”.
What the boss says: Mike Brennan, chief executive
“The continued growth in revenue and our return to full-year profitability after several years of losses is an extremely important milestone for Norman Broadbent.”
“As we move forward into 2020 these results further evidence that our strategy of building a more diversified, innovative and relevant business is working. Our diversification strategy has created a more balanced group offering clients a range of consulting, research-related, and impactful leadership advisory & acquisition solutions.”
Potential to expand by acquisition as size of business increases.