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Norman Broadbent expects positive earnings despite 18% fall in fee income
StockMarketWire.com
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Executive recruitment consultancy Norman Broadbent said it expected to achieve a positive annual earnings performance despite a fall in net fee income.
Net fee income for the year through December had dropped 18% to £6.2 million, though gross margin had risen to 79%, from 66%.
Swift cost control measures at the onset of pandemic had largely offset lower fee income, leading to 'positive' earnings before interest, tax, depreciation and amortisation.
'2020 was unprecedented yet, despite these unparalleled times, the Norman Broadbent team pulled through and performed,' chief executive Mike Brennan said.
'Notwithstanding the uncertain economic environment, our goal this year is to strive to grow net fee income back towards 2019 levels whilst continuing to build upon our successes in 2020 in carefully managing our cost base.'
At 8:51am: (LON:NBB) Norman Broadbent PLC share price was 0p at 5.05p
Story provided by StockMarketWire.com
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