London-listed executive search and recruitment firm Norman Broadbent (NBB: LSE) provided an unaudited trading update for the six months ended 30 June 2019 ahead of its annual general meeting.

Mike Brennan, CEO of Norman Broadbent, commented, "I am pleased to report that the first six months of the year have seen continued positive top line growth and have resulted in the company recording a small profit before tax.”

“The return to profitability in H1 is an extremely important milestone for the group. These results validate our strategy of building a more diversified business supplying high value services to our clients.

Will Gerrand, Group CFO & COO, also commented, “Our diversification strategy has created a more agile and balanced group offering a range of consulting, research‐related, and high‐quality fully‐retained Talent Acquisition solutions to our clients. The group posted a small profit before tax for H1 2019, and, looking ahead, can see a diversified business pipeline going into H2.”

The group plans to release its unaudited interim results relating to the six months ended 30 June 2019 in September 2019. 

Earlier this month, Norman Broadbent reported revenue of £9.4 million for the full year ended 31 December 2018, an increase of 44% when compared to the previous year and the highest annual revenue in over ten years for the group. Loss after tax narrowed during the period.

In trading today Norman Broadbent shares traded at £9.75, up 2.63% on the day. Based on its current share price the company has a market value of £5.25 million.