Norman Broadbent posts wider pre-tax loss for 2014, but back to profitability in 1Q

Recruitment company Norman Broadbent reported a rise in pre-tax losses to £1.56m in 2014 from £1.15m, saying the results reflect start-up losses in emerging businesses and the exceptional costs associated with regaining control of the Norman Broadbent brand worldwide.Still, the company returned to profitability in the first quarter of this year."I am pleased to report that in the first quarter of 2015, both revenue and profitability has exceeded management's expectations. The board is encouraged and looks to the future with some confidence," said executive chairman Pierce Casey.The company also announced that Casey will be retiring from the board on 30 June 2015, having been in the role for five years. He will be replaced by Scanes Bentley, who has joined the board as a non-executive director with immediate effect.Bentley is non-executive chairman, non-executive director and strategic advisor to a number of businesses and most recently was a partner for 12 years at Accenture where in the last five years he was responsible for running financial services and TMT consulting practices in London.