9th Aug 2022 11:43
Northcoders Group PLC - Manchester-based training programmes for software coding - Secures additional funding from the UK Department for Education, which will provide GBP4 million worth of scholarships to teach software development. Says the new contract will provide revenue visibility in financial year 2022, thus "providing comfort for future targets."
Adds that the funding will also be used to help students in its new Data Engineering unit, which is due to launch in the fourth quarter of 2022. Further, the scholarships can be awarded anywhere in England, providing Northcoders with the opportunity to grow its geographical footprint in London and the south of England.
Chief Executive Officer Chris Hill said: "As well as providing the company with additional revenue visibility, it also demonstrates how well-regarded our technology training courses are in the UK. With one of the company's core values being to improve diversity and inclusion within the tech industry, Northcoders are pleased to continue to offer these scholarships that provide accessibility to people from all walks of life across the UK whilst helping address the significant UK digital skills gap."
Current stock price: 279.53p, up 16% in London on Tuesday
12-month change: up 54%
By Sophie Rose; [email protected]
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