UK-based privately-held IT recruitment agency Next Ventures published results for the first six months of 2018 with revenue of £27.5 million, an increase of 28.9% compared to the same period last year.

The group also reported gross profit stood at £6.7 million, a 31.3% increase on 2017. Net Profit before taxation stood at £1.81 million, a 34% increase on 2017.

Next Ventures source IT talent both locally and internationally across five practice areas: SAP, Business Applications, Cloud & Infrastructure, Data, and Development & Integration. The group focuses on software manufacturers such as SAP, Oracle, Microsoft, Salesforce, Tibco and IBM.

The group said that 70% of the company's business is written outside of the UK market; with qualified contract and permanent talent being successfully delivered into 22 overseas territories, which ably supports the global nature of most of its client base.

During the first six months of 2018, the group further invested in its Netherlands subsidiary which has resulted in increased headcount and new offices in the heart of Amsterdam, a city which has been recognised as a leading European tech hub.

Richard Lacey, Co-Founder of Next Ventures, commented, “Our growth this year is particularly pleasing on the back of our outstanding growth of 40%+ in 2017!! I have to say that Brexit has been no problem to us and I remain extremely upbeat about our departure.”

The Next Ventures management team said they are confident that they will continue further targeted investments in the remainder or 2018 and are committed to significant growth well into 2019.