It's a real shame the wider sector malaise has tripped up the momentum that had been building here. Having achieved £0.9m EBITDA in 2023, NBB looked nailed on to achieve its targeted £1.25m target this year but the trading updates became more caveated due to sector headwinds and now it's stated as a medium term target.
That said, the share price has cratered in the last 9 months and it feels a bit overdone considering today's update. I see the merits of sitting on the side lines until positive news becomes evident but I'm going to mull over another top up if the share price remains below 4p. |
Zico, surely if they were in a closed period due to awaiting results, they could not buy?? |
Contracted revenues for 2025 up 40% year-on-year to £2.1m ( FY 2024 £1.5m ) well ahead |
Q4 was brilliant , the 4 directors bought shares not too long ago at around 5.70p. |
If these results are so good! And the prospect is good going forward, then surely we should see some directors showing confidence by accumulating more shares? |
er, are you not missing the no recovery during 1st half of 2025? And it was loss-making 2024? DYOR
I was a fan, bought in to its £1.25m EBITDA statement, but sold last year & have been watching as our Socialist govt & Rachel from Accounts have broken the economy & so I sense this is one to look at again in 6 months time....
DYOR |
WOW
A brilliant Q4 , being the company's strongest quarter of the year with Group Net Fee Income ("NFI") of £2.5m.
More importantly the outlook for 2025 is excellent , positive momentum has continued into 2025 with contracted revenues up 40% year-on-year to £2.1m (FY24: £1.5m; FY23: £1.8m).
Share price was over 10p in March/April of 2024 , on the back of today's TU the fall has been overdone.
A rerate to 8p to 10p over the coming weeks. |
 Norman Broadbent (AIM: NBB), a leading Executive Search and Interim Management firm, announces a trading update for the third quarter ended 30 September 2024 ("Q3").
Highlights
· Revenue of £2.7m, down 16% on Q3 2023 (£3.2m) and up 35% on Q3 2022 (£2.0m)
· NFI of £2.3m, down 18% on Q3 2023 (£2.8m) and up 35% on Q3 2022 (£1.7m)
o Q3 was the strongest quarter of the year, NFI was marginally up on Q2, with September being the highest monthly NFI in 2024
· Highest monthly value in 2024 of new retainers secured in September 2024, 33% above the year-to-date monthly average
· NFI to end of Q3 of £6.8m, down 14% on 2023 (£7.9m) and up 36% on 2022 (£5.0m)
Kevin Davidson, CEO of Norman Broadbent, said:
"Although market conditions continue to be challenging, I am pleased to report that we have held firm in our quarter-to-quarter performance, with a modest improvement on Q2 making Q3 the strongest of the year so far.
The standout performance in September was particularly gratifying and a welcome positive moving into the final quarter of the year which is traditionally our strongest.
While activity across our market remains subdued, following the UK Budget and US Presidential election and hopefully easing geopolitical tensions, we remain optimistic of an improving backdrop in 2025." |
I have also bought some at this well over sold level.
Q4 trading update very soon , maybe even this week which hopefully should kick start the share price again.
September was strong and Q4 is usually the strongest
Snippet from Q3:
The standout performance in September was particularly gratifying and a welcome positive moving into the final quarter of the year which is traditionally our strongest. |
The amount of trades over the last two months have been small scale. Does not suggest to me that leadership team are selling out. Obviously no market at this stage therefore anyone selling is going to receive a low price. That's just my view. Been here for over 15 years and sitting on a large paper loss. Hope the next results give us a better clue as to what is going on!!! |
are the senior leadership team who purchased in late 23 and early 24 selling down? Does anyone know what is happening? Very disappointing.... does not look good! |
seems if directors buy, it does not instill confidence but selling...seems to happen on many Aim shares. |
Directors bought at 5.75p in October and yet it keeps on falling..... |
Good to see some director buying this week although not massive amounts.
Large trade just gone through of 452,374 @ 5.39p and now no stock available to buy. Perhaps an overhang cleared.
This share is so up and down...priced for boom one minute then priced for bust the next. I'm sticking with it for now and recently bought more, even though CEO comments in the recent results seem to have become a little more caveated -
"While the timing of a recovery remains hard to predict, there are some positive signs beginning to emerge across the industry. Our average monthly retainer income in Q3 2024 is already slightly up on both Q1 and Q2 2024, in line with reports that the contraction of the labour market is easing. With the action we are taking to build on the positive transformation activity of recent years, we are in good shape to emerge strongly and quickly once conditions improve." |
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Norman Broadbent (NBB) interim results webinar
Monday, 9 September, 11:00am
Norman Broadbent CEO, Kevin Davidson and CFO, Mehr Malik will host a virtual presentation of their results for the six months ended 30 June 2024, followed by a Q&A session.
Register here: bit.ly/NBB_H124_results_webinar |
Norman Broadbent PLC - London-based recruitment firm - Net fee income in first half of year down 14% on-year to GBP4.5 million. Underlying earnings before interest, tax, depreciation and amortisation expected to be in range of GBP100,000 to GBP150,000, down from GBP270,000 on-year. "Growth is rarely linear quarter to quarter, but there is no doubt that, as is the case across the entire executive search and staffing industries, we are navigating extremely challenging market conditions. However, this doesn't impact the confidence we have in our prospects. Therefore, while having been cost conscious in H1 2024, we have continued to invest, growing and upgrading headcount to ensure that the company is well positioned to capitalise on the recovery when it comes," CEO Kevin Davidson says.
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well whoever sold yesterday, given v. little volume usually, day before a v. poor trading update? If that is not "sniffy" then what is please?
Looks like the £1m+EBITDA may have to be pushed back a year? Views?
DYOR |
Well there's the late trade to explain the drop - 285,568 shares sold @ 6.15p
Edit - could have been Downing Strategic Microcap who it looks like had been selling down their portfolio aggressively during June but their NBB holding remained almost unmoved -
03/06/24 - fund value £18.27m (NBB 0.37% = £67,599)
01/07/24 - fund value £5.19m (NBB 1.24% = £64,356)
Hopefully they just blindly ditched them. |
thanks, good post. let's see... |
Just noticed the 24% drop!
Bit unnerving considering the Trading Update last year was dated 11th July.
Although the Q1 update advised Q1 24 was 12% behind Q1 23, it was pointed out that last year was a record year and Q1 24 was still 47% ahead of Q1 22.
Dated at 1 month into Q2 24, the update also advised there had been a strong uptick in Q2 24.
Maybe it's a fund clearing out and there will be a late trade to explain the drop? That's what I'm hoping and just had a modest top up.
I guess we'll soon see. I don't have this down as a leaky share. |
Bit of a drop there. ANy views? |
Hi twodegrees...it wasn't my intention to blow any trumpets. That said, as you allude to, how happy we are with share price performance depends on when we bought our shares. |
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