NORTHCODERS GROUP PLC (CODE) — Full year results for the year ended 31 December 2025

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the NORTHCODERS GROUP PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and could be submitted at any time via the q and a tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Chris Hill, CEO. Good afternoon, sir. Thank you very much, and thank you everyone for joining us today. And I wanna be very clear and transparent that full year '25 was a challenging year, not just for for for NORTHCODERS, but the wider skills and recruitment sector, especially the technology focused ones amongst the some of the changes to the industry that that we've been seeing. But for us directly, the shift in the UK government funding for skills from a national model to a regional one did fundamentally change the landscape, significantly reduced volumes, decision making from those authorities was very delayed, it did really create a lot of uncertainty, across the market. And, you know, we're we're not gonna hide, but I will start to talk about what I am proud of. And what I think really defines us, for last year is how we, responded to our disruption and uncertainty. We took very early decisive action. We made a business, substantially reducing our cost base and protecting the gross margins despite incredible significant downward trend in revenue. And one main thing that we focused on is preserving cash, which was the right decision ...