Business
Q1 2025 Trading Update and Final Results
Q1 2025 Trading Update and Final Results.
About this update from Norman Broadbent Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.\n \n2 April 2025\n \n \nNorman Broadbent plc\n(\"Norman Broadbent\", the \"Company\" or the \"Group\")\n \nQ1 2025 Trading Update\nand\nFinal Results\n \nSecond best year in over a decade in a challenging market\n \nQ1 2025 Company's best ever quarter - NFI up 40% on Q1 2024\n \nNorman Broadbent (AIM: NBB), a leading Executive Search and Interim Management firm, is pleased to announce a trading update for Q1 2025 and its audited final results for the year ended 31 December 2024 (\"FY 2024\").\n \nQ1 2025 Highlights\n \n\n\n\n\n· \n\n\nQ1 2025 is the Company's best ever quarter, with net fee income (\"NFI\") up 40% on Q1 2024 - NFI of £3.0 million (Q1 2024: £2.15m)\n\n\n\n\n· \n\n\nContinuing the strong momentum generated at end of 2024, we enter Q2 having secured a record £2.43 million in contracted future revenue, 51% higher than Q2 2024 (Q2 2024: £1.61 million)\n\n\n\n\n \nFY2024 Financial Highlights\n \n\n\n\n\n· \n\n\nRevenue of £10.9 million, being down 13% on prior year (2023: £12.3 million) and up 25% on 2022 (2022: £8.7 million), delivering the Company's second-best performance in over a decade\n\n\n\n\n· \n\n\nNFI of £9.3 million, being down 11% on prior year (2023: £10.5 million) and up 19% on 2022 (2022: £7.8 million), reflecting the Company's transformation and longer-term growth trajectory. Q4 was the Company's strongest quarter of the year\n\n\n\n\n· \n\n\nUnderlying EBITDA1 of £0.3 million (2023: £0.9 million), up 200% on 2022 (2022: £0.1 million), demonstrating cost discipline while investing for growth\n\n\n\n\n· \n\n\nLoss before tax of £0.2 million (2023: profit before tax of £0.3 million; 2022: loss before tax of £0.3 million)\n\n\n\n\n· \n\n\nCash balance of £0.2 million as at 31 December 2024 (31 December 2023: £0.8 million)\n\n\n\n\n \nFY2024 Operational Highlights\n \n\n\n\n\n· \n\n\nGrew headcount by 12% while investing...