Digital finance delivers record results for Nostrum Group
NOSTRUM GROUP, the Harrogate and London based automated loan management software provider, has announced record results for the third consecutive year.
Nostrum secured a number of major brands as clients in 2014, resulting in a rise in turnover to just over £9m in the year to December. This is an increase of 29% from £7m in 2013 and EBITBA increased 13.3% to £1.2m in the same period.
It said growth is expected to continue, with the company enjoying good forward visibility of the majority of revenue for the next two years.
Neil Warman, chief financial officer at Nostrum Group, says: “We continue to see very strong demand for our lending platform as the market moves to a more digital approach. We’ve invested heavily in user experience in recent years and are now reaping the benefits of this development work. In simple terms, we’ve got a product in high demand in a growing market – it’s a great position to be in.
He added: “The company is in a strong position with over £5m cash in the bank and virtually zero debt. This leaves us able to continue to self finance our growth, and it’s possible we will make an acquisition of a suitable business that could help us achieve our strategic objective more effectively, which is to grow in our core lending markets by working with an increasing number of masthead clients.”
During 2014 Nostrum opened a London office and consolidated its Harrogate head office into a renovated single site premises. Permanent headcount grew by 35% to 73 over the 12 months to the end of 2014, and recruitment is an ongoing process.
Warman adds: “Recruitment of high calibre people who can add value to our business is an absolute priority. We don’t have a target headcount – we will keep hiring quality people as we are seeing such strong demand for our services. Successful recruitment of the right people will not only support the company’s growth, it will drive it.”
