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IN BRIEF: Northcoders secures funding from UK Department for Education

16th Jan 2024 10:23

Northcoders Group PLC - Manchester-based software coding training provider - Secures GBP10 million funding from UK Department for Education, providing the company "with strong revenue visibility for FY-2024 and H1-2025." Further, the firm highlights a 19% increase in revenue per student compared to the last nine months "Wave 4" contract. The funding, which comes from the DoE's skills bootcamp dynamic purchasing systems 2 bid, will be received over 18 months. Chief Executive Officer Chris Hill says: "This a fantastic demonstration of Northcoders' reputation as a market leading, quality technology training company. With the global skills challenge increasing through the continuous introduction of emerging technologies, training in these fields has become a priority across public and private sectors. Knowing we are the provider of choice is a testament to the team and the business we have built. This contract provides us with strong visibility and dependable cash flow for the year ahead, and as such, we move into 2024 with strong confidence."

Current stock price: 164.00 pence, up 21% on Tuesday morning in London

12-month change: down 47%

By Tom Budszus, Alliance News slot editor

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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