Thirst for digital skills fuels expansion at software coding trainer
Northcoders, which provides training programmes for software coding, has achieved revenues of £2.3m for the six months to 30 June 2022 (H1 2021: £1m).
Publishing a trading update for the six months to 30 June 2022, the Leeds and Manchester-based business confirmed it was trading comfortably in line with management expectations as to revenue and ahead of management expectations for underlying profitability.
As of 30 June 2022 revenue visibility for the financial year to December 2022 was already at 83% of market expectations.
The company adds that it has enjoyed continued growth in demand with 3,494 applications for its courses in the six-month period, compared to 3,662 applications in the full year to December 2021.
And there has been significant expansion of the company’s Corporate Solutions division, with multiple well-known UK firms turning to Northcoders for digital skills training.
Northcoders’ update adds: “The strong performance of the Group in the year to date gives the Board confidence to invest additional funds in the second half of the year to support the anticipated growth in FY 2023, which is expected to result in the overall profitability for FY 2022 being in line with market expectations.
“During the Period, the Group has secured multiple new contracts in its Corporate Solutions division, with Rolls Royce and EMAC Ltd, among others, and the Group received confirmation that its NHS Digital academy programme will commence in September 2022.
“Well-known companies such as On the Beach, Evri, HESA and Sky Bet have also now started their digital training programmes with Northcoders during the first half of 2022.”
The Group grew its graduate hiring network by a further 10% by engaging with 32 new companies for the first time this year.
Northcoders says it now has a network of almost 350 hiring partner companies to sustain its graduate hiring from coding bootcamps.
