StockMarketWire.com - Professional services group Norman Broadbent swung to a modest annual profit as its revenue rose by more than a fifth.

Pre-tax profit for the year through December amounted to £84k, compared to losses of £741k on-year. Revenue climbed 22% to £2.1m.

In the currently financial year, Norman Broadbent said the Covid-19 crisis had reduced revenue, particularly owing to a slowdown in the job searching market.

Falling sales, however, had been offset by cost cutting, helping to support earnings before interest, tax, depreciation and amortisation (EBITDA).

'Additional emphasis has been placed on cash collections and we have subsequently seen a reduction in debtor days during 2020,' the company said.

'This, combined with modest positive EBITDA in March, April, and May, helped protect cashflow and the group's cash position.'


At 8:53am: [LON:NBB] Norman Broadbent PLC share price was 0p at 6.5p



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