NFI up 15% at year-end 2019 for Norman Broadbent
The Norman Broadbent Group has released a trading update on its results for the full year ending 31st December.
Group revenues for the year were £11.5m, up 22% on 2018’s revenue of £9.4m. Group net fee income also increased, up 15% year-on-year to £7.6m. The group also returned to profitability during the year.
For the start of 2020, the company has reported a 12% year-on-year increase in NFI between January and April.
As of Monday 18th May, and following a full risk assessment, the company’s staff are now able to return to work in its offices without breaching social distancing rules. This ‘safe to work environment’ has been achieve at no incremental cost to the company.
Group CEO, Mike Brennan, said, "On behalf of the Board, I would like to take this opportunity to thank the Norman Broadbent team for their exceptional work this year and, particularly, during this recent challenging period. I would also like to welcome Steve Smith, our new Group CFO & COO, to the Board, replacing Will Gerrand. Steve, along with the Senior Leadership Team, has been exceptional in helping us navigate these choppy waters. The health and safety of our staff and stakeholders is of paramount importance, and I am delighted that we have been able to continue working safely and uninterrupted whilst maintaining high levels of client service, all achieved whilst working remotely. I am genuinely proud of our team - they have pulled together at this difficult time and clearly exhibited the strong values which bind us together."
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