CEO Review

An extraordinary year

FY21 saw Incremental successfully navigate the challenges of the Covid-19 pandemic and deliver a remarkably successful year. We continued our momentum of securing new clients, including a number of enterprise organisations. We also continued on our acquisition path welcoming Redspire, an independent Microsoft Dynamics partner with deep domain knowledge within the Financial Services sector, to the group, bringing our current headcount to 200 Incrementalists. In what was an extraordinary year, we performed exceptionally by remaining focused on improving ourselves and our clients, step-by-step, incrementally.

Performance

Returning to high growth

We were delighted to see revenues increase by almost 25% to £16.2m and EBITDA increase to £2.5m. A strong step up from the previous year and one that demonstrates the robustness and resilience of the business during an exceptionally turbulent year in the wider economic environment. With the acquisition of Redspire, the enlarged business enjoyed even more impressive results, with pro forma revenues of £19.3m and EBITDA of £3.4m.

Strategy

Focusing on what matters

Through a focus on five strategic objectives (culture, quality, brand, transformation and growth), our ambition remains undiminished as we continue our journey towards creating more than 600 highly skilled jobs, revenues of more than £75m and delivering an EBITDA of more than £15m.

Initiatives

Navigating Covid-19

In navigating Covid-19 during FY21, we made several strategic and operational changes. We increased support for Incrementalists and clients. From the creation of a Health and Wellness Group (HWG), to creating formal learning and development plans for every Incrementalist, many of these changes have had a positive impact on the business and will continue to do so.