Northcoders Group, which has base in Leeds, reports strong start to 2024

Unaudited revenue for the period increased by 27 per cent to £7.1m, which it said was driven by demand for digital training.

In 2023, Northcoders’ core B2C Bootcamp Division experienced record growth, receiving 8,535 registrations across its software development, data engineering and cloud engineering (DevOps) programmes.

The statement added: “This has resulted in record-breaking graduate placements and a 14 per cent increase in the hiring partner network, now totalling 465 companies, many of whom are returning to the group to fill new roles repeatedly, demonstrating the quality of the group’s technology training.

“2024 has started strongly, with continued growth in registrations within the B2C Bootcamp Division in January, reaching 872, representing a 74 per cent increase. This has been driven by improved strength and effectiveness of our marketing and conversion strategies.”

Earlier this month, Northcoders announced that it had secured its largest ever Department for Education Government funding round.

Chris Hill, CEO of Northcoders, said: “Reflecting on the past year I am genuinely proud of the Northcoders team, who delivered strong growth in revenue despite a challenging macro-economic backdrop.

"The ambition and entrepreneurial culture across the group has played a crucial role in navigating these challenging market conditions, particularly as we faced some initial challenges within our newer B2B division. Looking ahead, we are moving into 2024 in our strongest ever position.

“Northcoders remains committed to our mission, creating life-changing opportunities for individuals from all walks of life, as we build upon our growth track record whilst focusing on increasing profitability.

"I am incredibly excited about the opportunities that lie ahead and the positive impact Northcoders can continue to make in the UK technology industry, and to the lives of the individuals we serve.”

The board said it was confident about the group’s prospects for the current financial year, with access to revenue and contracted visibility for FY-2024 (full year 2024) standing at an all-time high at £8.3m.

The statement added: "This is an increase of 40 per cent cover compared to January 2023, and strongly underpins market expectation for FY-20242. Revenue visibility for FY-2025 already stands at £3.7m.”