Executive search firm Norman Broadbent released its half-year trading figures at its Annual General Meeting today.

Pierce Casey, chairman, made the following statement: “The board is pleased to advise shareholders that the company traded profitably in the six months ended 30 June 2010.

“The turnaround from operating losses in the same period last year, resulted from increased revenues in our search business, coupled with reduced costs. Current trading is encouraging with increased levels of repeat business from existing clients combined with new wins and we expect this trend to continue in the second half of the year.

“Following the recent share placing which raised £2.03m and the £3.46m reduction in the deferred acquisition liability, the balance sheet as at 30 June 2010 is strong, including cash balances in excess of £1m.

“The board is actively pursuing development opportunities to add to our existing network of offices in the UK, Spain, Italy, Canada and the Middle East.”

Interim results are expected to be released in early September.