Daily News
View All NewsUK – Norman Broadbent H1 revenue rises as it returns to profitability
London-listed executive search and recruitment firm Norman Broadbent (NBB: LSE) reported revenue yesterday of £5.2 million for the six months ended 30 June 2019, an increase of 12.7% when compared to the previous year.
| (£ millions) | H1 2019 | H1 2018 | Change |
| Revenue | 5.26 | 4.66 | 12.7% |
| Gross Profit | 3.52 | 3.29 | 7.0% |
| Operating Profit | 0.05 | (0.23) | N/A |
| Loss after Tax | 0.01 | (0.26) | N/A |
Mike Brennan, Norman Broadbent Group CEO, commented, "I am pleased to report that the first six months of 2019 have seen continued positive top line growth. We also recorded a small profit before tax - the first for many years.”
“The return to profitability in H1 is an extremely important milestone for the group,” Brennan said. “Having posted a loss of £0.3 million in H1 2018, and a loss of £0.5 million in H2 2018, I am pleased with the significant improvement in H1 2019 which saw the group return to profit.”
Revenue by segment
| (£ millions) | H1 2019 | H1 2018 | Change |
| Executive Search | 1.61 | 1.77 | -9.0% |
| Leadership Consulting | 0.13 | 0.16 | -19.2% |
| Solutions | 0.90 | 0.61 | 45.7% |
| Interim Management | 2.61 | 2.11 | 23.7% |
Revenue by segment
| (£ millions) | H1 2019 | H1 2018 | Change |
| UK | 4.90 | 4.48 | 9.2% |
| Rest of the World | 0.35 | 0.18 | 97.2% |
“These are positive results and evidence our progression,” Brennan said. “We remain confident that we will see continued top line and Net Fee Income growth, along with an improved bottom line for 2019.”
In trading yesterday Norman Broadbent shares traded at £8.50, up 3.0% on the day. Based on its current share price the company has a market value of £4.31 million.