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Posted on March 26, 2019 by staff

Revenue and profits up at Opencast Software

Newcastle tech firm Opencast Software has reported a jump in revenues and profits.

The company, based at Hoults Yard, said turnover was just under £5m while profits climbed 20 per cent in the year ending December 31st 2018.

“We’re expecting that trend to continue this year, with further expansion in terms of new clients, profit, staff and turnover,” said CEO Mike O’Brien.

“Growth in the range and number of clients has been hugely satisfying over the past year and we’re confident that trend will continue in 2019.”

Opencast’s clients include Betfair, Newcastle Building Society, Barclays, Sage, RBS, the Department of Health and the NHS.

“The increase in our provision of services to clients and our work in Whitehall have been important contributory factors to our growth,” added O’Brien.

“During the year ahead, we’ll continue to expand our services – providing more lives services, delivering more user research and helping more clients in the area of user experience.”

Opencast employs 65 staff and featured on our North East Tech 101 list last year.

Managing director Carl Shovlin said: “We’re proud to be a regional company with a national and international client base.

“It’s satisfying to know that we’re providing critical solutions and services to major organisations from our Byker base, bringing all of this work to the region.

“We’re not the biggest in terms of size, but we continue to win contracts with these huge global corporations, government departments and organisations.

“Our presence on several official government procurement lists of preferred suppliers gives clients of all sizes reassurances about our capabilities.”