# Norman Broadbent demonstrate resilience and relevance during H1

- Link: https://www.directorstalkinterviews.com/norman-broadbent-demonstrate-resilience-and-relevance-during-h1/412861063
- Published: 2020-09-28T07:24:00+01:00
- Author: Giles Arbor

**Norman Broadbent plc** ([LON:NBB](https://www.directorstalkinterviews.com/company/norman-broadbent-plc/nbb.l))–
a leading London quoted Professional Services firm offering a diversified portfolio
of integrated Leadership Acquisition & Advisory Services – has announced the Group’s
unaudited interim results for the six months ended 30 June 2020

**Highlights**

·      Positive EBITDA of £11,000

·      NFI decline of just 5.7% despite the disruption arising from the Covid-19
pandemic

·      Interim Management and Solutions saw positive NFI increases from H1 2019 
of +48% and +22% respectively

·      Net cash inflow from operations of £629,000

·      Debtor days at end of H1 2020 was 48 days (Dec 2019 – 72 days)

·      All external loans (excluding Bibby Working Capital Invoicing Discounting
facility) fully repaid

·      Actively seeking growth opportunities via key appointments, M&A initiatives,
and partnerships/strategic ‘tuck-ins’  

> **Mike Brennan, Norman Broadbent Group CEO, said:**
> “I am pleased to report that the first six months of 2020 showed positive EBITDA,
> and, despite Covid-19, we saw only a minimal decline in NFI of 5.7%. This remarkable
> achievement is down to the dedication of my colleagues and our strategy of building
> an innovative, diversified, and agile Group. These factors, coupled with our willingness
> to take difficult decisions quickly and early on in the pandemic, meant we were
> well placed to respond to market challenges and uncertainties.
> We have proven our strategy is working, and our leadership team has the bandwidth
> to build the Group further. With this in mind, and despite these challenging times,
> we are actively seeking growth opportunities in the form of key strategic appointments
> to the Group, M&A initiatives, and partnerships/strategic ‘tuck-ins’.  
> I and the Board would like to thank our supportive shareholders and clients for
> continuing to place their trust in us.  I must also pay tribute to my colleagues–
> I am justifiably proud of them and their performance. Our continued positive momentum
> during this most difficult of times is down to their hard work, dedication, and
> commitment.”

> **Steve Smith, Norman Broadbent Group CFO/COO, added:**
> _“With the Group posting positive EBITDA for H1 2020, and with revenues only marginally
> down, we have demonstrated Norman Broadbent’s resilience and relevance. Culturally
> and operationally we are no longer a traditional, siloed, pure-play executive 
> search business but something much broader, more progressive, and relevant in 
> today’s market. Increasingly our clients see us for what we now are – a problem-
> solving business partner offering bespoke solutions incorporating Consulting, 
> Interim, Research & Insight, and high‐quality fully retained Search Solutions.”_

Share on: