24th Jul 2023 10:06
Norman Broadbent PLC - London-based recruitment firm - Says revenue in its first half ended June 30 up 56% GBP6.1 million, from GBP3.9 million at the same point the prior year. Swings to pretax profit of GBP8,000 from a pretax loss of GBP72,000 year-on-year. Generates net cash of GBP50,000, from net cash used of GBP500,000 the year prior. Underlying earnings before interest, tax, depreciation and amortisation up to GBP270,000, from GBP60,000.
Chief Executive Officer Kevin Davidson said: "Despite a challenging market, we look forward with confidence and excitement about what can be achieved again at Norman Broadbent. Looking ahead, we remain conscious of the macro-economic environment, but continue to see a strong pipeline of opportunities giving us confidence as we head into the second half."
Current market price: 5.48 pence, up 9.6%
12-month change: up 4.4%
By Will Neill, Alliance News reporter
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