Record revenues at technology training group Northcoders

Northcoders, a Manchester-based coding specialist with bases in Leeds, Birmingham and Newcastle, has reported record revenue and profitability in its final results for the year ended 31 December 2024.

Group revenue climbed by 24 per cent to a record £8.8m, (FY23: £7.1m), which the business says was driven by continued success in diversifying revenues and rolling out new course in high growth areas.

Profit for the year before tax was £400,000 (2023: £1.2m loss), while gross profit increased by 34 per cent to £5.9m (FY23: £4.4m).

Chris Hill, CEO, 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.

 “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.”

The business also reported a further increase in number of individuals trained. This rose to 3,976 (FY23: 2,852).

And on 5 March 2025 the group confirmed that it had successfully secured a new £1.5m debt finance agreement to support the next stage of its growth.