Group revenues up 22% YoY for Norman Broadbent
Norman Broadbent has released an unaudited trading update relating to the 12 months ended 31st December 2019.
The Board is pleased to report that following the progress made in the first six months of 2019, the underlying growth in revenue and improvement in operating results has continued into the second half of the year. This has seen the company return to profitability for the full year to 31st December 2019. Group revenues increased by 22% year-on-year to £11.5m (2018: £9.4m). Group net fee income increased by 15% year-on-year to £7.6m (2018: £6.6m).
The Group anticipates releasing the full results for FY2019 in early April.
Mike Brennan, group CEO of Norman Broadbent, commented, “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.
“We continue to invest in high-quality Talent. In particular, we are pleased to announce the opening of a new North-West office in March 2020. Our North-West team are already hired, fully operational, and starting to contribute.
“In London we will shortly be relocating to new, larger offices in SW1 enabling us to scale further.
On achieving this important profit milestone, I would like to again thank my colleagues for their hard work, innovation and commitment, our clients for placing their continued trust in us, and our supportive shareholders."
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