Norman Broadbent (AIM:NBB) reported net fee income of £3.5m for the third quarter to 30 September, a record quarterly performance for the group and ahead of both the prior year (Q3 2025: £2.9m) and the prior quarter (Q2 2026: £3.1m).
The AIM-listed executive search and interim management firm, which has been scaling its business through disciplined investment in fee-earning capacity, said it had secured seven net new fee earners year-to-date, consistent with its stated growth objective.
The update builds on a recovery through the year: first-half net fee income had come in at £5.3m, down from a record £6m a year earlier, before second-quarter income of £3.1m marked a 41% rise on the first quarter's £2.2m.
"Q3 has been a standout quarter, with a broad-based effort across the team helping us to achieve a new record-level of quarterly NFI for the group," said Kevin Davidson, chief executive of Norman Broadbent, adding that the firm starts the final quarter "in a good position with NFI momentum and robust levels of work in progress."
The company said current work in progress supports a positive outlook for the fourth quarter and into 2027, with new hires still working towards their full fee-earning potential expected to build future capacity.
Norman Broadbent completed the acquisition of Society, a small executive search business, in February, and has said it continues to evaluate further targeted acquisitions where strategically and financially justified.