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Norman Broadbent

  • BY: Andrew Hore |
  • POSTED: 20/04/2012 |

Executive search firm Norman Broadbent has made a strong start to 2012.

Core UK search revenues are 16% ahead in the first quarter. The international network has expanded into Latin America and new subsidiaries set up in Singapore and the US although there will be start-up costs. 

There were restructuring costs of 802,000 last year and consultant changes held back revenue growth.

Revenues increased 13% to 6.9m in 2011. Much of that growth came from a full year contribution from Human Asset Development International Limited (HADIL). Underlying profit fell from 320,000 to 267,000.

Norman Broadbent raise 1.75m at 65p a share a year ago. Net debt was 84,000 at the end of 2011 and there is also 481,000 of deferred consideration.

At 49p a share, Norman Broadbent is valued at 5.2m.

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