Last checked at 28 Jul 2010 07:00
28 July 2010
Norman Broadbent Plc
("Norman Broadbent" or the "Group")
Trading Update
At the Annual General Meeting of Norman Broadbent plc to be held later today, Pierce Casey, Chairman, will make the following statement:
"The board is pleased to advise shareholders that the Company traded profitably in the six months ended 30 June 2010. The turnaround from operating losses in the same period last year, resulted from increased revenues in our search business, coupled with reduced costs. Current trading is encouraging with increased levels of repeat business from existing clients combined with new wins and we expect this trend to continue in the second half of the year.
"Following the recent share placing which raised £2.03 million and the £3.46 million reduction in the deferred acquisition liability the balance sheet as at 30 June 2010 is strong, including cash balances in excess of £1 million. It is anticipated that interim results will be released in early September.
"The board is actively pursuing development opportunities to add to our existing network of offices in the UK, Spain, Italy, Canada and the Middle East."
Contacts:
Norman Broadbent plc
Andrew Garner/Ben Felton 020 7629 8822
Merchant Securities Limited
John East/Simon Clements 020 7628 2200
Buchanan Communications Limited
Tim Anderson/Isabel Podda/Christian Goodbody 020 7466 5000