REG - Norman Broadbent PLC - H1 2025 Trading Update

Norman BroadbentAnnouncement

10/07/2025 07:00

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RNS Number : 4457Q  Norman Broadbent PLC  10 July 2025

  10 July 2025

 

Norman Broadbent plc

("Norman Broadbent" or the "Company")

 

 

H1 2025 TRADING UPDATE

 

Record first half performance

 

Norman Broadbent (AIM: NBB), a leading Executive Search and Interim
Management firm, is pleased to announce the following unaudited trading update
for the six months ended 30 June 2025 ("H1 2025").

 

Financial highlights

 

 ·         Record first half performance with net fee income ("NFI") of £6.0m up 33%
           (2024: £4.5m)
           o                                         Executive Search NFI up 36% on H1 2024
           o                                         Interim Management up 21% on H1 2024
 ·         Q2 2025 NFI of £3.0m up 30% (2024: £2.3m), maintaining the exceptional
           momentum from the previous two quarters
 ·         Underlying EBITDA(1) expected to be in the range of £0.75m to £0.8m (2024:
           £0.1m)
 ·         Net cash((2)) of £0.2m as at 30 June 2025 (30 June 2024: net debt((2)) of
           £0.7m). This is after annual bonus payments, historical rates refund (£0.1m)
           and full repayment of the CBILs loan
 ·         Number of search mandates secured up 37% on H1 2024, and average fee value per
           mandate increased by 36%
 ·         Careful management of cost base continues, with London office move saving
           c£0.1m year-on-year and improved processes and support technologies
           continuing to drive efficiencies

( )

( 1 ) Underlying EBITDA excludes share based payment charges

( 2 )Excluding lease liabilities

 

 
Kevin Davidson, CEO of Norman Broadbent, commented:

 

"I am delighted to be announcing this record-breaking trading update for H1
2025, particularly in the face of a persistently challenging market. It speaks
to the success of the work undergone to transform the Company in recent years
to become the ambitious, agile and resilient organisation it is today.

 

Our values-based and award-winning culture will always be the foundation of
our growth engine. With that in mind, we have continued to invest in enhancing
productivity and value-adding technologies and the development of our people.
This, of course, will continue to be undertaken within the parameters of our
prudent focus on overhead management and cash generation.

 

I remain optimistic about the Company's prospects, particularly noting the
increased value of contracted revenue going into Q3 2025, and with our
consistent focus on delivering sustainable and profitable growth over the long
term."

 

 

Contacts:

 

 Norman Broadbent plc                                +44 (0)20 7484 0000
 Kevin Davidson, CEO
 Mehr Malik, CFO

 Shore Capital (Nominated Adviser and Broker)        +44 (0)20 7408 4090
 Tom Griffiths / Tom Knibbs (Corporate Advisory)
 Henry Willcocks (Corporate Broking)

 Alma (Financial Communications Adviser)                  +44 (0)20 3405 0205
 Rebecca Sanders-Hewett                              normanbroadbent@almastrategic.com (mailto:normanbroadbent@almastrategic.com)
 Kinvara Verdon
 David Ison

 

About Norman Broadbent:

 

Norman Broadbent (AIM: NBB) is a professional services firm focused on
executive search, senior interim management solutions and bespoke leadership
advisory services working across the UK and internationally.

Established as the first UK-headquartered search firm in 1979, the firm has a
40+ year track record of shaping leadership across industries including
Consumer, Financial Services, Industrials, Life Sciences, Investor and TMT.

 

www.normanbroadbent.com (http://www.normanbroadbent.com)

 

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