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By Simon Zekaria
LONDON--Norman Broadbent PLC (NBB.LN) Friday said its chairman
Pierce Casey is retiring, as the recruitment services company
posted a larger full-year loss.
Mr. Casey will leave the firm on June 30, the company said.
Scanes Bentley is joining as chairman elect with immediate effect,
it said.
Mr. Bentley is a non-executive chairman, non-executive director
and strategic advisor to a number of businesses, and most recently
was a partner for 12 years at the management consultancy company
Accenture PLC (ACN), it said.
Norman Broadbent said its net loss for the year ended Dec. 31
widened to 1.49 million pounds ($2.31 million) from GBP1.05
million.
Revenue from continuing operations increased by 11%
year-over-year to GBP7.60 million.
The company said its first-quarter profit and revenue has
exceeded its expectations, adding that it is "encouraged and looks
to the future with some confidence."
Operating loss from continuing operations narrowed to GBP932,000
from a loss of GBP1.16 billion, as the company invested in its
business, it said. Operating expenses totaled GBP8.01 million,
compared with GBP7.94 million in the same period a year
earlier.
At 1348 GMT, shares fell 4.9% to 19.5 pence, valuing the company
at GBP4 million.
Write to Simon Zekaria at simon.zekaria@wsj.com
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