Q1 2026 Trading Update
Norman Broadbent plc reported a solid first quarter for 2026, with Net Fee Income (NFI) of £2.2 million, a decrease from £3.0 million in the prior year's comparative period. The company has invested in growth by adding four net new fee earners organically and completed the acquisition of Society Limited in February 2026, which added five staff and broadened the group's capabilities. Despite a strong finish to 2025, the monthly run-rate improved significantly after January, and the company reiterates its full-year expectations for NFI growth, acknowledging that progress may be non-linear and monitoring Middle East events.
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Norman Broadbent (AIM: NBB), a leading Executive Search and Interim Management firm, announces a trading update for the first quarter ended 31 March 2026 ("Q1").
Headlines
- NFI of £2.2m for Q1 26 (Q1 25: £3.0m), reflects a solid trading performance against a strong comparative period in 2025
- Secured four net new fee earners through organic recruitment, consistent with the objective to invest in growth by increasing fee-earning capacity
- Completed the acquisition of Society Limited in February 2026, adding five additional full-time staff and broadening the Group's platform capability
Kevin Davidson, CEO of Norman Broadbent, said:
"We started 2026 on the back of a record 2025 and with Q4 our strongest quarter in over a decade. Q4 was bolstered by a very strong end to the year with a material element of NFI we anticipated securing in January 2026 pulled forward into December 2025. The monthly run-rate during Q1 markedly improved after January. Together with our current visibility, this encouraging performance underpins our confidence in a further year of NFI growth in FY26, in line with our expectations. We remain of the view that progress this year from one quarter to the next is likely to be non-linear and we obviously continue to monitor events in the Middle East carefully.
Our strategic goals for 2026 are clear: investing in headcount growth and developing the team to drive our fee-earner capacity; exploring options to accelerate growth through M&A where it makes strategic and financial sense to do so; and remaining laser focused on short term performance, exceptional client delivery and leveraging our winning culture. The Society acquisition in the quarter is consistent with our disciplined approach and complements our organic recruitment in the quarter as we add capability, sector depth and diversification. We are making good progress in building a stronger business and with our track record of navigating uncertainty we expect to make continued progress in the year and years ahead."
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