Northcoders Group PLC on Tuesday said trading was slightly ahead in the second half of the year as it reported a turn to a profit in the first half.
The Manchester-based software coding training provider said it swung to a pretax profit of £118,137 in the first half of 2024 from a loss of £306,908 a year ago.
Revenue climbed 26% to £4.4 million from £3.5 million. Cost of sales increased 14% to £1.4 million from £1.3 million, while total administrative costs were 15% higher at £2.8 million compared to £2.4 million.
Chief Executive Officer Chris Hill said: ‘The strength of Northcoders brand across the UK continues to grow, and as the breadth of our technology training continues to expand, such as our new Java and C# courses, we are confident in our ability to sustain this expansion. These courses are the languages usually adopted by large enterprises and are currently underserved or not serviced at all in our sector.’
Northcoders said the second half of 2024 started well, with trading slightly ahead of its own expectations. The company added it was confident in its ability to deliver 2024 results and profit in line with market expectations.
CEO Hill said: ‘The recently piloted flexi course remains a strong potential growth driver for us as we test and learn from the first cohort which is now in progress, we will ensure that we retain our thoughtful strategic approach with this new learning style and are looking forwards to this growing in 2025.’
Northcoders shares fell 2.3% to 203.30 pence each on late Tuesday morning in London.
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