During an exceptionally turbulent year, Incremental Group has reported a revenue increase of almost 25% to £16.2m and an EBITDA increase to £2.5m. Incremental’s Annual Review 2021 reports strong performance and demonstrates a commitment to Incremental’s people and clients.
In what was an extraordinary year, Incremental continued its momentum of securing new clients, including a number of enterprise organisations, and continued on its acquisition path, acquiring independent Microsoft Partner, Redspire.
In navigating Covid-19 during FY21, Incremental made several strategic and operational changes. Incremental’s cloud first strategy enabled it to close offices with no impact on digital and communication infrastructure, ensuring the safety of Incrementalists and continued services for clients during a crucial time for business continuity.
Incremental demonstrated its dedication to the health and wellbeing of all Incrementalists by starting a range of initiatives. From the creation of a Health and Wellness Group, to implementing a formal learning and development plan for every Incrementalist, many of the changes have had a positive impact on the business and will continue to do so. Ultimately, Incremental was committed to putting its people and clients first during FY21.
Neil Logan, Chief Executive Officer of Incremental said, “FY21 is a year that will live long in our collective memories. The resulting economic and social disruption has been severe, but this cannot be compared to the pain, sadness and loss of life the Covid-19 pandemic has caused. I am incredibly proud of the response from our Incrementalists during this difficult time. Their commitment to providing exceptional service to our clients and providing support to each other, has been astounding.”
In FY21 Incremental continued its track record of welcoming new clients at a rate of more than one per week. These new clients range in scale, geography and market and all enable Incremental to grow in reputation and increase client spend.
Incremental saw revenues increase by almost 25% to £16.2m and EBITDA increase to £2.5m. A significant increase from the previous year and one that demonstrates the robustness and resilience of the business during an exceptionally turbulent year in the wider economy. With the acquisition of Redspire, the enlarged group enjoyed impressive results, with pro forma revenues of £19.3m and EBITDA of £3.4m.
By completing its third acquisition and welcoming Redspire in FY21, Incremental has increased its technical expertise and deep domain knowledge within the Financial Services sector. This domain expertise was demonstrated expertly with the development of Virgin Money as a key strategic client in the last 12 months.
Incremental’s CEO and co-founder Neil Logan said: “Redspire has proved to be an excellent fit for Incremental Group and I am delighted that it has continued to grow as part of the enlarged group. Our focus is on ensuring that Redspire continues to deliver for clients, retaining its agility and focus whilst bringing increased scale and technical breadth to the wider group.”
The acquisition of Redspire, coupled with steady organic growth, has brought the group’s current headcount to 200 Incrementalists.
Through a focus on five strategic objectives (culture, quality, brand, transformation and growth), Incremental’s ambition remains undiminished as it continues its journey towards creating more than 600 highly skilled jobs, revenues of more than £75m and delivering an EBITDA of more than £15m.
Neil Logan said, “This last year has been an extraordinary one for us all. At Incremental we have performed exceptionally but we are not resting. Our focus remains on improving, step-by-step, incrementally.”
Incremental Group’s Annual Review 2021 is available to explore here.