Trading Update

RNS Number : 0278Q

Norman Broadbent PLC

28 July 2010

 



                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

 

END

 

 

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