33. NTT Data Business Solutions

Revenue: £120.8m

NTT Data Business Solutions UK posted double-digit revenue growth in its latest fiscal year, with turnover rising 10.3 per cent to £133.3m and post-tax profits climbing to £11.7m. The SAP-focused consultancy and solutions provider maintained its position as the third-largest contributor to both revenue and profit within its German parent group, NTT Data Business Solutions AG.

The firm exceeded its internal KPI targets for both revenue and EBITDA, with EBITDA reaching £15.2m at an 11.4 per cent margin — comfortably ahead of its £13.2m target. A strong year for the company’s cloud offerings saw revenues from Managed Cloud and cloud product provision jump 29 per cent to £30.4m, as more customers opted for hosted or multi-tenanted environments over on-premise systems.

NTT Data Business Solutions UK continues to operate a direct sales model, delivering the majority of its services in-house across areas such as marketing, finance and HR. Headcount increased in line with demand over the year. In March 2024, the UK arm absorbed Sapphire Systems Ltd from the group in a share transaction, enhancing its expertise in web-based SAP products (including CX) and bolstering its proprietary offerings.

Cash reserves stood at £32.85m at year end, despite a dividend of £20.4m being paid during the period. Net current assets fell to £16.3m, down from £24.8m, but the firm still met its target on days sales outstanding, achieving an average of 23.42 days against a 23-day KPI.

Looking ahead, the business plans to continue investing in its people and growing its cloud capabilities to stay ahead of evolving customer demand.