Northcoders created new jobs as its revenue almost doubled and it returned to the black, new figures have confirmed.
The Manchester-headquartered company, which provides technology training to companies and individuals, has posted a revenue of £5.5m for 2022, up from the £3m it achieved in 2021.
It also made a pre-tax profit of £346,429 for the year compared to a loss of £523,588 in the prior year.
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The company also increased its headcount from 63 to 101 in the year, according to its full-year accounts filed with the London Stock Exchange.
Northcoders has bases in Manchester, Leeds, Newcastle and Birmingham while its major corporate partners include Rolls-Royce, Disney, the BBC, KPMG and Sage.
Chief executive Chris Hill said: "I am pleased to report our first full year results as a quoted company.
"We have had a successful year, significantly growing revenue and profitability, whilst keeping our core values at the heart of everything we do.
"A strategic priority was to create a presence in many regions across the UK, which has been achieved successfully during the period.
"We have also been able to focus on the expansion of our business solutions division, which has been an immense success with a number of major corporates onboarding and making repeat orders.
"Digital transformation is a growing priority for corporates, trying to find new and innovative ways of filling their teams and goals at a time of economic restraint, and Northcoders is incredibly well placed to satisfy this demand.
"In November 2022 we completed a placing, raising £2.1m, which has enabled us to set out on our growth path of teaching more technical disciplines.
"We have experienced record demand and have navigated macro-economic challenges successfully and we are in a strong position for growth in FY23.
"The demand for Northcoders' services has never been higher, with a record-breaking month in March 2023.
"With favourable market dynamics such as the UK government committing billions of pounds for the provision of skills bootcamps, Northcoders is well positioned to grow.
"The current year has started strongly, and at the end of the first quarter revenue visibility stood at £6.1m, approximately 64% of target revenue for the year, and subsequently, the board has every confidence for the group's prospects for the remainder of the year."
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