REG - Northcoders Group - Government contract win

NorthcodersAnnouncement

09/08/2022 07:00

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RNS Number : 3182V  Northcoders Group PLC  09 August 2022

 For immediate release  9 August 2022

 

 

Northcoders Group PLC

('Northcoders', the 'Group' or the 'Company')

 

Government contract win

Continuing to address UK digital skills gap & securing further revenue
visibility

 

Northcoders (AIM:CODE), the independent provider of training programmes for
software coding, is pleased to announce that the Group has been successful in
securing further funding from the  Department for Education Skills Bootcamps
Wave 3 bid. This new round of funding provides Northcoders with £4 million
worth of scholarships to train individuals on their market-leading bootcamp.

The new contract provides the Company with revenue visibility into FY23, which
is expected to be another year of significant growth. Signing contracts such
as this, and Northcoders initiatives such as the new corporate Developer
Incubator, enable the Company to plan revenue further into the future than
ever before providing comfort for future targets.

The funding has been awarded not only to teach software development, which is
the Group's core offering, but can also be used to fund students in the
Group's new Data Engineering business unit. The Data Engineering unit to be
launched in Q4 2022, is the next discipline within the Company's product
growth plan. The scholarship seats are eligible for award anywhere in England,
which therefore also provides an opportunity to further grow the Company's
geographical footprint including in London and other areas of the south of
England.

Chris Hill, CEO, commenting on the contract win said: "I am delighted that
Northcoders been able to secure this additional £4 million government funding
through the Department for Education. 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."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

- Ends -

 

For further enquiries:

 Northcoders Group PLC                                       Via Buchanan
 Chris Hill, CEO                                             www.northcodersgroup.com (http://www.northcodersgroup.com/)
 Charlotte Prior, CFO

 WH Ireland Limited (Nominated Adviser & Joint Broker)       Tel: +44 (0)20 7220 1666
 Mike Coe
 Sarah Mather

 Peterhouse Capital Limited (Joint Broker)                   Tel+44 (0) 20 7496 0930
 Martin Lampshire                                            www.peterhousecap.com (http://www.peterhousecap.com/)
 Lucy Williams

 Buchanan Communications
 Henry Harrison-Topham                                       Tel: +44 (0) 20 7466 5000
 Stephanie Whitmore                                          northcoders@buchanan.uk.com (mailto:northcoders@buchanan.uk.com)
 George Cleary

 

 

 

Notes to Editors

Northcoders is a market leading provider of B2B and B2C coding and software
development training. Founded in 2015, its business model operates a hybrid
structure with flagship sites in Manchester and Leeds supported by a best in
class digital offering to businesses and individuals across the UK.

 

Powered by IP rich technology, Northcoders' coding school offers bootcamp
courses to consumers from a range of backgrounds, delivered through virtual
and physical learning.  The Group also works with blue chip corporates across
multiple sectors to supply innovative EdTech solutions for the upskilling and
reskilling of employees, and is a registered provider of government-backed
apprenticeships in the field.

 

With a keen focus of inclusivity, diversity and quality at its core,
Northcoders aims to address the digital skills gap in the UK to meet the
increasing demand for digital specialists from corporates and government. It
operates in a significant and growing market with structural growth trends
further accelerated by Covid-19.

 

Northcoders was admitted to trading on AIM in July 2021 with the ticker
CODE.L.  For additional information please visit www.northcodersgroup.com
(https://www.northcodersgroup.com/) .

 

 

 

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