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(Sharecast News) - Executive search services firm Norman Broadbent said on Monday that net fee income had continued to improve in the third quarter, despite "persistent" market challenges.
Norman Broadbent said net fee income was up 26% in the three months ended 30 September at £2.9m, pushing year-to-date net fee income to £8.9m, up 31% year-on-year.
Chief executive Kevin Davidson said: "I am delighted to report that, despite persistent market challenges, the very positive trading performance demonstrated over the past year has continued through the third quarter.
"Furthermore, new project awards have held up over the summer trading months and the value of future contracted revenue at the beginning of Q4 was in line with the position at the start of Q3. This provides great momentum for us as we push to deliver a strong close to the year."
Davidson also said Norman Broadbent was now looking to the future "with considerable optimism".
"With the business turnaround complete and our improved financial position, we have created a much stronger platform to fuel the next stage of growth for the company," he stated. "In addition, we will continue to explore inorganic growth options to accelerate the journey where it makes strategic and financial sense to do so."
As of 0945 BST, Norman Broadbent shares were down 0.82% at 243p.
Reporting by Iain Gilbert at Sharecast.com
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