Software coding training provider Northcoders has released its full-year trading update for 2021, hailing strong results and announcing further governmental support to deliver student courses.
It has confirmed that the Department for Education (DfE) has boosted its funding by £1.65 million to deliver training courses between February and September 2022, having successfully delivered nearly 300 programmes for the DfE over the past six months.
Underlying performance, it reports in its trading update, was “in line with expectations”, while non-underlying costs are expected to be lower than previously planned for – “therefore the reported result will be ahead of market expectations.”
Northcoders, which is based in Manchester, Leeds and Newcastle, floated on the AIM market in July with a valuation of £12.5 million – and according to today’s report has recently started its largest cohort yet, with more than 100 students starting their course.
Last year, the company won the Rapid Growth Award at the Prolific North Tech Awards, and was shortlisted for Best Edtech Innovation.
It is set to also open new hubs in Birmingham and Liverpool over the course of the next year.
The update continues: “With the benefit of increased marketing spend and geographic presence, the Board expects [the] growth in demand to continue as Northcoders significantly expands its list of hiring partners with large organisations such as AND Digital Limited, Wren Kitchens Limited and Sky Betting & Gaming.”
Existing partners, for which Northcoders has delivered apprenticeship courses, include PrettyLittleThing and delivery firm Hermes.
