2014 record year for Nostrum Group
Nostrum group saw turnover exceed £9m in 2014, marking a 29% increase compared to the year before.
This was the highest recorded turnover since the automated loan management software provider’s launch. According to the group, turnover has increased by 137% since the end of 2012.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 13.3% to £1.2m in 2014 compared to the previous year.
Neil Warman, chief financial officer at Nostrum Group, said: “We continue to see very strong demand for our lending platform as the market moves to a more digital approach. We’ve invested heavily in user experience in recent years and are now reaping the benefits of this development work.
“The company is in a strong position with over £5m cash in the bank and virtually zero debt. This leaves us able to continue to self-finance our growth, and it’s possible we will make an acquisition of a suitable business that could help us achieve our strategic objective more effectively, which is to grow in our core lending markets by working with an increasing number of masthead clients.”
After 19 new appointments last year, Nostrum Group -based in London and Harrogate – now has 73 employees holding permanent roles.