(Alliance News) - Professional services firm Norman Broadbent PLC said on Tuesday it has opened a new office in Cheshire due to increasing client demand.
The company said the new office in the north of England will be a base for a local team that will serve clients across the North, North-West, North-East and Scotland.
"Just over half of our business comes from outside London. Increasingly, we are finding our clients based in the north want local knowledge and national expertise to help support their people agenda. This client demand has led us to invest further and open this new office," said Chief Executive Mike Brennan.
The expansion comes after Norman Broadbent in February reported a return to profitability in 2019. The company said it expects to record a 22% year-on-year rise in group revenue to GBP11.5 million. Group net fee income is predicted to rise 15% to GBP7.6 million.
In 2018, the recruitment firm posted revenue of GBP9.4 million and a pretax loss of GBP741,000. Net fee income totalled GBP6.6 million.
Full results will be published in April.
The stock was untraded on Tuesday afternoon in London, last closing at 7.50 pence each.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Norman Broadb (NBB)