16 October 2024
Norman Broadbent
plc
("Norman
Broadbent" or the "Company")
Q3 2024 TRADING
UPDATE
Resilient performance in Q3
with September being the highest monthly NFI in
2024
Norman Broadbent (AIM: NBB), a
leading Executive Search and Interim Management
firm, announces a trading update for the
third quarter ended 30 September 2024 ("Q3").
Highlights
· Revenue of £2.7m, down 16% on Q3 2023
(£3.2m) and up 35% on Q3 2022
(£2.0m)
· NFI of
£2.3m, down 18% on Q3 2023 (£2.8m) and up 35% on Q3 2022
(£1.7m)
o Q3
was the strongest quarter of the year, NFI was marginally up on Q2,
with September being the highest monthly NFI in 2024
· Highest monthly value in 2024 of new retainers secured in
September 2024, 33% above the year-to-date monthly
average
· NFI to
end of Q3 of £6.8m, down 14% on 2023 (£7.9m) and up 36% on 2022
(£5.0m)
Kevin Davidson, CEO of Norman Broadbent,
said:
"Although market conditions continue to be challenging, I am
pleased to report that we have held firm in our quarter-to-quarter
performance, with a modest improvement on Q2 making Q3 the
strongest of the year so far.
The standout performance in September was particularly
gratifying and a welcome positive moving into the final quarter of
the year which is traditionally our
strongest.
While activity across our market remains subdued, following
the UK Budget and US Presidential election and hopefully easing
geopolitical tensions, we remain optimistic of an improving
backdrop in 2025."
Contacts:
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Norman Broadbent
plc
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+44 (0)20 7484 0000
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Kevin Davidson, CEO
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Mehr Malik, CFO
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Shore Capital (Nominated Adviser and
Broker)
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+44 (0)20 7408 4090
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Tom
Griffiths / Tom Knibbs (Corporate Advisory)
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Henry Willcocks (Corporate
Broking)
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Alma (Financial Communications
Adviser)
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+44 (0)20
3405 0205
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Rebecca Sanders-Hewett
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normanbroadbent@almastrategic.com
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Kinvara Verdon
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David Ison
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