By Anthony O. Goriainoff
London-based professional-services firm, Norman Broadbent PLC, has announced an impressive increase in net fee income (NFI) for the second quarter and first half of the year. The company expects to report a rise in Ebitda for the first half compared to the previous year.
During the second quarter, NFI reached £2.7 million ($3.5 million), a significant improvement from £1.8 million recorded during the same period in 2022. For the entire first half, NFI surged by 57% to £5.2 million.
Norman Broadbent also forecasts that earnings before interest, taxes, depreciation, and amortization will exceed £250,000, a notable rise from £50,000 in the previous year.
The company’s Executive Search division experienced a remarkable 58% increase in NFI, amounting to £4.1 million.
Norman Broadbent remains optimistic about its future prospects, highlighting its robust contracted work pipeline with a value of £2.3 million for the upcoming third quarter.
“Despite challenging macro-economic conditions, we firmly believe that our company is strategically positioned in the right markets at an appropriate level to ensure sustained growth and success,” stated Chief Executive Kevin Davidson.