Neueda has reported an increase in turnover and pre-tax profit in new results. Brendan Monaghan spoke to Insider about the impact of COVID-19 on the business and its potential outlook going forward.

Neueda operates in markets experiencing data and regulatory challenges, with a near shore resourcing centre in Malaga and sales offices in Dublin, London and New York.

Turnover for the year to 31 March 2020 surged to £32.1m, up from £23.3m in 2019.

Additionally, pre-tax profit reached £2.3m, up from £1.6m.

Brendan Monaghan said:

“What we are seeing is that our clients are getting to grips with this. We have to get on, we can’t stand still. I think this we year will be flat in terms of turnover and profitability, but I see us coming out of the year potentially with a really healthy pipeline and returning to growth next year.

“We still have to develop our businesses, change our business, we need to adapt and on the back of that, you are going to see a lot of investment in digital transformation, all the things that are big drivers for us. I would be cautiously optimistic but I’m not shouting it from the rooftops.”

Source: Insider Media