Strong Financial Results for First Half of 2018
Deal or no deal, Brexit does not seem to be affecting Next Ventures’ impressive growth. The London based niche technology recruiters, that focus on the international large enterprise sector, are unfazed by all the uncertainty around our exit from European Union. Their half-year results, just released show continued success and underline their claim to be one of the fastest growing technology recruiters in the UK.
Continued growth in revenue and profit by this privately held group has been entirely organic, without outside investment. Neither the intensely competitive marketplace nor economic uncertainties have slowed their progress.
In response to the earlier success of the Netherlands subsiduary, further investment has resulted in increase headcount and new offices in the heart of Amsterdam, a city which has been recognised as a leading European tech hub.
NV, who specialise in providing global implementation teams to large enterprise clients, systems integrators and consultancies, have achieved the following numbers in 2018:
Six month key financial highlights of 2018 compared to the first 6 months of 2017.
- Revenue increased to £27.5m, a 28.9% increase on 2017
- Gross Profit £6.7m, a 31.3% increase on 2017
- Net Profit before taxation £1.81m, a 34% increase on 2017
Last year’s realignment of the Next Ventures delivery model, to focus its services within 5 niche practice areas, creates a much clearer vision for growth, and highlights to the group where future investment should be spent when considering team expansion.
Focused on software manufacturers such as SAP, Oracle, Microsoft, Salesforce, Tibco and IBM. 70% of the company’s business is written outside of the UK market; with highly qualified contract and permanent talent being successfully delivered into 22 overseas territories, which ably supports the global nature of most of its client base.
The company drives all employees to deliver a consistent quality approach to all clients and candidates. To this end NV is an investor in its people constantly re-training internaly as well as hiring successful consultants who are proven and networked within their niches. Their ‘Graduate Academy Program’ offers great on job training and mentoring to 30+ graduate intakes per annum. NV staff are market-leading, and this has allowed them to differentiate against their competitors.
The Next Ventures management team are confident that they will continue further targeted investments in the remainder or 2018 and are committed to significant growth well into 2019.
They source IT talent both locally and internationally across five practice areas:
- Business Applications
- Cloud & Infrastructure
- Development & Integration
“Our continued expansion is testament to our great team of Recruiters, who strive to deliver the highest calibre resources to our clients! Our growth this year is particularly pleasing on the back of our outstanding growth of 40%+ in 2017!! I have to say that Brexit has been no problem to us and I remain extremely upbeat about our departure. We just need to accept the peoples mandate, stop debating it, pull together and come up with a viable exit! Next Ventures will continue to win whatever the resulting landscape, in Europe and beyond!”
Richard Lacey, Co-Founder