Norman Broadbent sees positive momentum carry over into 2020

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.