Manchester-based technology training firm Northcoders Group plc reported “record” results for the year ended December 31, 2024, with group revenue rising 24% to £8.8 million and gross profit surging 34% to £5.9 million.
On current trading and outlook, Northcoders said that in the latter part of FY24 and into Q1 of FY25 “there has been a positive shift in corporate engagement, with more of the group’s hiring partners taking on junior engineers …”
The firm said: “Post period end three contracts won, two with Skipton Building Society and one with Manchester Airports Group …
“Northcoders launched its new B2C Training Bootcamp course focusing on AI and Machine Learning which will start in June 2025 …
“The group’s current Department of Education contract provides visibility until June 2025 and there is confidence, although not certainty, that decisions about future structures will have been made by then, with national extension conversations underway …”
Northcoders provides technology training for businesses and individuals with courses in software engineering, data engineering, AI and machine learning, and platform engineering. Founded in 2015, the group’s business model operates a hybrid structure with a flagship site in Manchester and other sites in Leeds, Birmingham and Newcastle supported by a digital offering to support its students across the UK.
Northcoders CEO Chris Hill said: “Our record FY24 results are a testament to Northcoders’ growing national reputation as a leading provider of high-quality technology training.
“Despite a challenging hiring market, we are successfully diversifying revenues and increasing profitability within the group.
“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.
“As the UK looks to address the digital skills gap to drive innovation and economic recovery, the role Northcoders plays in developing tomorrow’s technology talent has never been more important. By 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. Whilst 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.”