Fast growing xDesign eyes £40m turnover
Product and software engineering company xDesign has reported record revenue of £14.5 million and has £26m booked as it remains on track for a £40m turnover next year.
The owner-operated Edinburgh company said it expects to expand its workforce to 550 over the coming 12 months and to 1,200 by 2025.
Euan Andrews, founder and CEO, said: “Our latest financial results are testament to the hard work and dedication of our people.”
In May, xDesign signed a milestone multi-year partnership with sports gaming firm FanDuel, founded in Edinburgh and now part of Flutter, to jointly fund the creation of hundreds of high-value tech jobs in the UK.
Its other clients include blue chip brands such as MoneySuperMarket Group, Tesco Bank, and Yorkshire Building Society.
Mr Andrews continues: “Investing heavily in our people has paid dividends at a time when many companies in a variety of sectors are losing the fight for digital talent.
“Our core philosophy is that increasing revenue should be a by-product of doing the right thing by your people and clients.
“Taking this approach has meant that we can not only offer the very best digital talent, but we have also been able to regularly attract fresh talent to scale with our growth ambitions too.
“We’re currently hiring around 30 new people every month, but also keeping attrition to under 4% compared to the tech sector average of 23%. As a result, we’re well on track to meet our target of employing 1,200 people by 2025.”
To serve an ever-expanding team, xDesign is set to open offices in Manchester and London in 2022 in addition to those in Edinburgh and Leeds.