magneticNorth enjoys double-digit growth
Manchester-based digital design studio magneticNorth has hailed its second consecutive year of high growth.
The award-winning company, which was established in 2000, is celebrating 25 per cent growth for its 2016/17 financial year. The results build on the previous year where magneticNorth also delivered significant double-digit growth.
With a client list that includes AutoTrader, BBC and Co-op Digital, magneticNorth is firmly established as one of Manchester and the UK’s most prominent digital design studios.
The business also doubled its profits in 2016/17, as part of a “bold vision” set out in 2015 to “prosper and grow”.
The development plan is being driven by magneticNorth's management team, which is headed up by CEO Lou Cordwell, operations director Stuart Brown and creative director Adam Todd.
Cordwell was earlier this year appointed as director of the North for female-led funding model AllBright.
Thanks to two successful financial years, magneticNorth said it is now nearing ‘high growth’ status, which is defined as a firm of 10 or more employees that grows either its workforce or turnover by an average of more than 20 per cent per year for three consecutive year.
Where the starting point is a business with revenues of at least £1 million, then these companies are referred to as “Gazelles”.