Technology training firm Northcoders has announced its final results for the year ended 31st December 2024, which saw revenue increase by 24% to 拢8.8m.
The Manchester-based business says that this was driven by continued success in diversifying revenues and rolling out new courses in high growth areas.
Other financial highlights include gross profit increasing by 34% to 拢5.9m with a gross profit margin of 67% (FY23: 63%) and adjusted EBITDA increasing significantly to 拢1m (FY23: 拢0.1m).
聽The company also trained more individuals, with that number rising to 3,976 from 2,852.
Its reputation continued to grow, reflected in the number of hiring partners rising to 510, whilst its NCore platform and consultancy brand Counter both continued to gain momentum.
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鈥淥ur record FY24 results are a testament to Northcoders’ growing national reputation as a leading provider of high-quality technology training,鈥� said Chris Hill, CEO of Northcoders.
鈥淒espite a challenging hiring market, we are successfully diversifying revenues and increasing profitability within the group.聽 Our growing curriculum of technology training courses, including in high demand areas like AI and Machine Learning, is supporting the inherent scalability of the Northcoders business model.
鈥淎s the UK looks to address the digital skills gap to drive innovation and economic recovery, the role Northcoders plays in developing tomorrow鈥檚 technology talent has never been more important.聽
鈥淏y empowering individuals from all backgrounds to pursue careers in technology, we will more equitably and rapidly evolve the digital landscape. Looking ahead, FY25 has started promisingly.
鈥淲hilst macro-economic challenges remain in the short term, we continue to be confident that, as the market improves, our quality training solutions and strategy will drive value for our shareholders.鈥�