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Executive recruitment consultancy Norman Broadbent posted a small first-half loss after the Covid-19 crisis weighed on fee income.
Pre-tax losses for the six months through June amounted to £0.05 million, compared to a profit of £0.02 million on-year. Revenue fell 16% to £4.4 million.
The company posted positive earnings before interest, tax, depreciation and amortisation of £0.01 million.
Chief executive Mike Brennan said a 'minimal decline' in net fee income of 5.7% was a 'remarkable achievement' in the face of the pandemic.
'We have proven our strategy is working, and our leadership team has the bandwidth to build the group further,' he said.
'With this in mind, and despite these challenging times, we are actively seeking growth opportunities in the form of key strategic appointments to the group, M&A initiatives, and partnerships/strategic 'tuck-ins'.'