Digital tech firm eyes £60m revenue after strong year
Digital technology firm Incremental Group is targeting revenues of £60 million by 2020 after enjoying a strong year of turnover growth, new client wins and a new Manchester office.
In the financial year to 31 March 2018, the company grew revenue by 60 per cent to £6.6 million and EBITDA (earnings before interest, tax, depreciation and amortisation) by 100 per cent to £1 million.
The firm said its results were boosted after it won a series of new customers from across the public and commercial sectors. It also opened a new office in Manchester, adding to its existing UK bases in Glasgow, Inverurie, Northwich and London.
Since the beginning of the first quarter of the new financial year, Incremental has launched a new flagship office at the Garment Factory in Glasgow.
Earlier this month, it acquired Cheshire-based Gap Consulting in a deal which took overall headcount to 120.
Incremental CEO and co-founder Neil Logan said: “The team has a strong sense of purpose, vision, ambition and shared values.
“Our growth strategy has been to harness this, widen our service offering, diversify across sectors and strengthen our coverage across the UK.”
With a fast-growing order book and a strategic plan that involves growing organically and through additional acquisitions, Incremental is on target to deliver revenues of almost £15 million in its current financial year and is targeting revenues of £60 million by 2020.
It also hopes to have a workforce of around 500 by that time. Incremental is also helping redress the gender balance in the tech sector, with 45 per cent of its team being female.
“Not only do we want to build one of the UK’s most successful digital technology companies, we want to do it in an inclusive way,” Logan said.
Its client base includes Aberdeen City Council, Aggreko, Air Liquide, ASCO, BP, Harbro, Hoover Ferguson, Proserv, Scottish Leather Group, The Scottish Government and Total.