News blog
Norman Broadbent
- BY: Andrew Hore |
- POSTED: 03/12/2010 |
Executive search firm Norman Broadbent has acquired psychological assessment and executive coaching services provider Human Asset Development International.
The newly acquired business will retain its separate identity so that it is perceived as independent and objective. Services include the in-depth psychological profiling of both individuals and senior teams.
No purchase price has been published.
Norman Broadbent swung for a loss of £660,000 to a profit of £974,000 in the six months to June 2010, although this includes a one-off gain of £882,000. That gain relates to the liquidation of BNB Recruitment Consultancy Ltd. Although overall revenues dipped by 5% to £3.26m, the executive search revenues were 8% higher at £3.06m.
There was a cash outflow from operations but there was £1.04m in the bank at the end of June 2010.
At 74p a share, up 2.5p, Norman Broadbent is valued at £5.71m.
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