Northcoders Group PLC (AIM:CODE), provider of coding and software development training, said it experienced a strong year in 2021 as demand for its 'boot camps' continued to grow.
With its coding schools offering courses delivered both online and in-person, the group said it has commenced its largest ever cohort with more than 100 students starting the course this month.
In a trading update almost six months to the day from its AIM flotation, the Manchester-based outfit gave no details on revenues for last year apart from saying it was a “strong result”, with underlying performance in line with expectations, non-underlying costs lower than expected.
It said there was “visibility” for 2022 revenues of just over £3mln.
A contract secured with the Department for Education's 'Lifetime Skills Guarantees' and 'Plan for Jobs' initiatives, announced in July 2021, provided the company with additional funding for its courses, it said.
Additional training hubs are planned to open in Birmingham and Liverpool over the next 12 months, adding to the presence in Manchester and Leeds and the new hub opened in the period in Newcastle last year.
Additionally, Stepex Limited was said to has been engaged as a new “funding partner” to enable more students from a variety of backgrounds to participate.
Shares in Northcoders jumped 7% to 274p on Tuesday morning, up over 50% from the 180p at which it joined the market last July.