Norman Broadbent shares add 20% as recruiter trades 'materially ahead'
Norman Broadbent PLC on Thursday reported a strengthened financial position along with improved second-quarter trading, as it stressed the role of discipline and agility in navigating a challenging market environment.
The London-based recruitment firm said in a trading update ahead of its annual general meeting that its performance to-date in the second quarter of the year has been ‘materially ahead’ of the previous year.
Shares in Norman Broadbent surged 21% to 3.75 pence on Thursday afternoon in London.
Norman Broadbent credited the improvement to a mix of discipline and agility within the confines of a challenging market environment. It said this success is underpinned by a ‘strong and focused team’ coupled with new employees who contribute.
It reported an improvement in its financial health, as it noted the repayment of the outstanding £96,000 for its coronavirus business interruption loan. Normal Broadbent added that its invoicing discounting facility remains its only form of borrowing.
‘While the pace of its progress will continue to be influenced by wider macro and market conditions, the company remains well positioned to further advance its commercial and strategic objectives throughout the remainder of the year and beyond,’ said Norman Broadbent.
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