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Norman Broadbent PLC on Monday reported a ‘record’ half-year performance, realising solid segmental growth despite ‘well-documented’ challenges in the labour market. The London-based recruitment firm reported pretax profit of £499,000 for the six months that ended June 30, swinging from a loss of £73,000 a year earlier. Driving the improved earnings was a 47% advance in revenue to £7.4 million from £5.0 million, with net fee income rising 34% to £6.0 million from £4.5 million. Norman Broadbent said this reflected a ‘record’ interim performance. By segment, Search grew 36% to £5.3 million, Interim Management rose 95% to £2.1 million, while Leadership consulting contracted 19% to £54,000. Shares in Norman Broadbent were up 1.8% at 235.60 pence on Monday afternoon in London. Looking ahead, Chief Executive Kevin Davidson expects 2025 to be ‘another year of significant progress.’ ‘The persistent, and well documented, macro-economic and labour market challenges that we have faced have endured for much longer than predicted and, to have delivered the successful turnaround and organic growth performance we set out to achieve despite this, stands us in very good stead for the future,’ said Davidson. ‘As we move forward, our focus is on disciplined investment to scale the business and drive the next stage of growth. We will continue to prioritise the sectors we are already very strong in both domestically and internationally. Furthermore, now that our core executive search offering is performing so well and our brand recognition has improved considerably, we will be exploring how we can develop and expand our broader service lines, including our interim management business,’ continued Davidson. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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