London technology recruitment firm grows revenue by a fifth

A technology-focused recruitment group has announced it has achieved almost 20 per cent growth in the last financial year.

Next Ventures Group, which is headquartered in London with six international subsidiaries, has released its financial figures for 2018, highlighting a 19.5 per cent increase in revenue to £56.3m, and 19.6 per cent increase on EBITDA to £3.8m.

Furthermore, its net fee income has reached £14.1m, increasing 24.8 per cent on the previous year, with a 24.1 per cent increase in its contract net fee income and a 26.7 per cent increase on its permanent net fee income.

The business provides implementation teams to large enterprise clients, systems integrators and consultants, and has grown its footprint in both the UK and internationally in the last 12 months without any acquisitions, external investment or debt.

Its services are split across five practice areas within niche technologies, including SAP, business applications, cloud and infrastructure, data and development and integration. Its ‘Next Steps Academy’ takes on between 30 and 40 graduates each year, providing on the job training and mentoring.

Richard Lacey, co-founder of the company, said: “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 per cent in 2017.”