Glasgow-based digital technology outfit Incremental Group is on target to deliver revenues of almost £15 million in the new financial year after posting thumping gains over the past 12 months.
The firm’s chief executive and co-founder Neil Logan is now targeting the ambitious goals of £60m in revenues, £10m in underlying earnings and a workforce of 500 by the 2022 financial year.
Reporting results for the year to 31 March, the group said revenue had risen 60 per cent to £6.6m while underling earnings (Ebitda) doubled to £1m. During the year, Incremental opened a Manchester office and won a series of new clients from across the public and commercial sectors.
Since the beginning of the first quarter of the new financial year, the firm has launched a flagship office at the Garment Factory in Glasgow and, earlier this month, acquired Cheshire-based Gap Consulting in a deal that adds expertise and improved UK-wide coverage while taking overall group headcount to 120.
The company now has five locations across the UK – Glasgow, Inverurie, Northwich, Manchester and London.
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.”
The firm is confident of achieving its 2022 targets thanks to a fast-growing order book and a “strategic plan” that involves growing both organically and by way of further acquisitions.
As well as investing in the leadership, commercial and people functions during the year, Incremental said it was helping redress the gender balance in the tech sector, with 45 per cent of its team being female.
Logan added: “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.”
The firm was officially launched in November 2016 with financial backing from Maven Capital and the Scottish Investment Bank. In January 2017, Incremental received £500,000 of regional selective assistance support from Scottish Enterprise to help facilitate its expansion.
The group’s client base includes Aberdeen City Council, Aggreko, Air Liquide, Asco, BP, Harbro Hoover Ferguson, Proserv, Scottish Leather Group, the Scottish Government and Total.