FINANCIALS: Next Ventures Group weathers the economic storm

Technology specialist recruiter Next Ventures Group saw a rise in both revenue and net fee income last year as it continued to grow its headcount.

Results for the year ended 31 December 2018 reveal that despite the economic and political uncertainty, the group, which provides implementation teams to large enterprise clients, systems integrators and consultancies, grew sales both in the UK and internationally.

Headline figures for 2018 are:

  • Revenue increased to £56.3m, a 19.5% increase on previous year
  • NFI – £14.1m, a 24.8% increase on previous year
  • Contract NFI – £10.3m, a 24.1% increase on previous year
  • Permanent NFI – £3.8m, a 26.7% increase on previous year

Headquartered in London with six international subsidiaries, the company statement said: “The business has not been distracted in any way by Brexit and political uncertainty, maintaining its successful formula of focusing on quality delivery, meeting the demand for specialist systems implementation resources, within international clients.”

The annual report and financial statement on Companies House reveals that group turnover, despite falling in the UK to £8.8m from £10.3m in 2017, rose in the Rest of Europe to £43.5m (£36.3m, 2017) and increased in the Rest of the World from £500k in 2017 to an impressive £4m in 2018, showing where Next Ventures is focusing its attention.

The annual report says the company continues to invest in its people, “delivering consistent internal training, as well as hiring successful consultants with proven capability who are strongly networked within their niches”. Next Ventures’ ‘Next Step Academy’ learning programme offers on-the-job training and mentoring to 30-40 graduate intakes a year. Headcount grew 25% from 84 in 2017 to 105 in 2018.

Richard Lacey, co-founder of Next Ventures, says: “Our continued expansion is testament to our great team of ‘niche-focused 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 42% in 2017. 

“The political uncertainty is not ideal; however, we are weathering the storm exceptionally well, and the Next Ventures team will continue to win whatever the resulting landscape, in Europe and beyond!”

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