FINANCIALS: Norman Broadbent sees increase in NFI

Professional services staffing specialist Norman Broadbent has seen a 15% increase in group net fee income on 2018.

According to a trading update for the full year to 31 December 2019, released late last week, group NFI increased to £7.6m from £6.6m in 2018, with group revenues up 22% to £11.5m from £9.4m in 2018.

The group added it was pleased to report that following the progress made in the first six months of 2019, underlying growth in revenue and improvement in operating results had continued into the second half of the year, resulting in the company returning to profitability for the full year to 31 December 2019. 

Mike Brennan, group CEO of Norman Broadbent, said: “The continued growth in revenue and our return to full-year profitability after several years of losses is an extremely important milestone for Norman Broadbent. 

“Our diversification strategy has created a more balanced group offering clients a range of consulting, research-related and impactful leadership advisory & acquisition solutions.

“In London we will shortly be relocating to new, larger offices in SW1, enabling us to scale further.”

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