15. NTT Ltd.

Revenue: £223.5m

Global services giant NTT Ltd’s UK arm took a financial hit in its latest year, with revenue sliding from £243m to £223m and gross profit almost halving to £34m. Restructuring and the hangover from legacy transactions tied to its 2021 integration with NTTE (UK) weighed heavily on its bottom line, pushing operating losses to £16m—up from £4m the year prior.

The company’s traditional focus areas—networking, security, datacentres and end-user computing—are evolving fast as clients lean into software-defined infrastructure and IT-as-a-service models. NTT said declining hardware rebates were a key reason for its margin squeeze, as its portfolio continues shifting toward managed and professional services.

Despite tough trading conditions, current assets grew year-on-year, and the leadership says it remains committed to driving value through technology delivery, support services and managed offerings.