Edinburgh's xDesign to ramp up headcount on back of record revenues
Edinburgh-headquartered product and software engineering outfit xDesign plans to ramp up its headcount after reporting record growth.
The firm, which was founded in 2010, posted record revenue of £14.5 million for the latest financial year. It marks the fourth consecutive year of substantial growth for the business and a sharp rise on last year’s result.
As part of its revenue announcement, the owner-operated company also reported that it is on track to expand its workforce to 550 people in the next year, while looking to grow its revenue to £40m in the same period. It has in excess of £26m of revenue booked in for this financial year already.
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Founder and chief executive Euan Andrews said: “Our latest financial results are testament to the hard work and dedication of our people. At a time of great uncertainty - one that’s seen many UK companies look for answers to their talent demands - we’ve been able to satisfy a growing need in the market by providing high-quality, highly-motivated, and locally-based technologists.
“We’re not a company that simply wants to put ‘bums on seats’. We’re one that looks to enter into a two-way partnership with clients, to add real tangible value to their company whilst setting them up for success in the long term - particularly when it comes to digital skills and capability. Our recent partnership with FanDuel is a great example of this approach in action.”
In May, the firm signed a “milestone” multi-year partnership with Edinburgh-founded sports gaming platform FanDuel, to jointly fund the creation of hundreds of high-value tech jobs in the UK. Its other clients include high-profile brands such as MoneySuperMarket Group, Tesco Bank, Yorkshire Building Society and Zonal.
Andrews added: “We’re currently hiring around 30 new people every month, but also keeping attrition to under 4 per cent compared to the tech sector average of 23 per cent. As a result, we’re well on track to meet our target of employing 1,200 people by 2025.”