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LONDON (Alliance News) - Recruiter Norman Broadbent PLC on Friday said its pretax loss narrowed in 2015 thanks to higher revenue and restructuring action across the group.
The company said its pretax profit for the year to the end of December was GBP425,000, narrowed from a GBP1.4 million loss a year earlier, as revenue grew to GBP8.6 million from GBP7.4 million.
Norman Broadbent said its executive search business saw revenue decline over the year due to weaker trading conditions in September and October, which recovered somewhat in November and December. The firm's Leadership Consulting business delivered higher revenue, following a restructuring of the business in late 2014 and early 2015, driven by good growth in new customers and healthy business from existing clients.
AGP, the firm's mezzanine-level search business, was restructured over the course of the year and revenue was flat, while its Social Media Search arm, its social media-focused recruitment unit, saw revenue slip significantly and has also undergone a restructuring.
Norman Broadbent said it made a small profit in the first quarter of 2016 amid solid trading.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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