Norman Broadbent sees positive momentum carry over into 2020

18th May 2020 08:04

(Sharecast News) - Professional services firm Norman Broadbent said on Monday that the positive momentum seen last year had carried over into the first four months of 2020.
Norman Broadbent posted a 12% increase in net fee income for the four months ended 30 April despite Covid-19 related lockdowns impacting its trading markets as strong contributions from its Senior Interim Management and Talent Solutions activities helped offset difficulties seen elsewhere.

The AIM-listed group, which highlighted that investments in digital marketing over recent years had also positively impacted results, cautioned that Covid-19 had led to some reduction in revenues but stated these had been offset by cost-cutting measures so far.

While Norman Broadbent's full-year results have been delayed as a result of the coronavirus pandemic, the firm confirmed on Monday that it had swung to a full-year profit, while revenues had risen 22% to ?11.5m last year and NFI increased 15% to ?7.6m.

As of 1010 BST, Norman Broadbent shares were up 6.52% at 6.12p.