London-based technology focused recruitment business, Next Ventures Group, announced its financial results for 2018.

The specialist recruitment business which provides implementation teams to large enterprise clients, systems integrators and consultancies reported revenue increased to £56.3 million, a 19.5% increase on previous year.

Net fee income stood at £14.1 million, a 24.8% increase on previous year. When broken down, contract net fee income increased by 24.1% to £10.3 million while permanent net fee income stood at £3.8 million, a 26.7% increase from last year.

EBITDA was up 19.6% from last year to £3.8 million.

Next Ventures said it continued to grow sales both in the UK and internationally.

“The business has not been distracted in any way by Brexit and political uncertainty, maintaining their successful formula of focusing on quality delivery, meeting the demand for specialist systems implementation resources, within international clients,” the company stated.

It added that its growth has continued to be organic without acquisitions and no external investment or debt.

Richard Lacey, Co-Founder of the company, commented, “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% in 2017! The political uncertainty is not ideal; however, we are weathering the storm exceptionally well, and the Next Ventures team will continue to win whatever the resulting landscape, in Europe and beyond!”