Norman Broadbent has reported a return to profitability for fiscal year 2025, driven by a notable rise in revenue and net fee income. The UK executive search firm said revenue rose 39% year-on-year to £15.14 million, while net fee income increased 32% compared with the prior year.
Profit before tax swung to a positive £600,000 after a loss in the previous year. Underlying EBITDA climbed 333% to £1.3 million, according to the company. Operating expenses for the year were reported at £11.62 million.
Management attributed the improvement in profitability to productivity gains and disciplined cost control, noting that the business is beginning to benefit from operating leverage as it scales. At the same time, the firm said it deliberately invested in headcount and systems during FY25 to underpin growth and broaden capability.
Norman Broadbent said growth in the year was underpinned by a strategy that emphasised higher-quality assignments, diversification across sectors, and an uptick in international activity. The company said it completed its turnaround strategy over the period.
After the fiscal year closed, the firm completed the acquisition of Society Limited, a move the company described as targeted support for future growth activity.
Looking ahead to FY26, Norman Broadbent aims to raise its fee-earning capacity by at least 20%. However, management cautioned that growth is likely to be non-linear given ongoing market uncertainty. The company plans further international expansion and the development of its leadership consulting services as part of its next-phase strategy.
Summary of financials
- Revenue: £15.14 million for FY25, up 39% year-on-year.
- Net fee income: up 32% year-on-year.
- Profit before tax: £600,000, a return to profit from a prior-year loss.
- Underlying EBITDA: £1.3 million, up 333%.
- Operating expenses: £11.62 million.
Outlook and strategic priorities
The company has set a target to expand fee-earning capacity by at least 20% in FY26 and intends to pursue additional international expansion alongside building out its leadership consulting offerings. Management flagged that progress may be uneven as market conditions evolve.