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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 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.”

 

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Blue sky

Potential to expand by acquisition as size of business increases.