The º£½ÇÊÓƵ arm of software giant Workday, has seen its profit nearly double in its most recent financial year. The US group reported a pre-tax profit of $39.5m (£30.6m) for the 12 months ending 31 January, 2024, as per the latest accounts filed with Companies House.
This is a significant increase from the previous year's pre-tax profit of $21.3m (£16.5m). The company's º£½ÇÊÓƵ turnover also increased from $253.2m (£196.3m) to $264.4m (£205m) during the same period, as reported by .
Workday collaborates with over 35% of the FTSE 100 companies, including Diageo, Lloyds, GSK and Rolls-Royce, as well as public sector organisations such as the Crown Commercial Service, Department for Education and The National Archives.
In the fourth quarter of its most recent financial year, the firm added David Lloyd Leisure, Compare the Market and Newcastle United to its client roster. Founded in 2005 and going public in 2012, Workday now employs over 18,800 people globally.
The impressive results follow Workday's announcement of plans to invest more than £550m in the º£½ÇÊÓƵ over the next three years. Although the Nasdaq-listed company did not specify by how much, it confirmed that this investment would lead to an increase in its º£½ÇÊÓƵ workforce.
During its most recent financial year, Workday's º£½ÇÊÓƵ arm employed 666 people, up from 647 in the previous 12 months and a rise from 528 two years ago.
Workday has announced a 40 per cent increase in investment over the past three years, "furthering the organisation's commitment to strengthen the nation's economy and support the goal to cement the º£½ÇÊÓƵ as a science and technology superpower by 2030.
The company stated that this investment will bolster its strategic capital arm, Workday Ventures, fuel the growth of the Workday Partner Ecosystem, and facilitate the launch of its applications running on Amazon Web Services' London region for º£½ÇÊÓƵ cloud customers in early 2025.
On a group level, Workday reported a 17 per cent increase in total revenue for the year ending 31 January, 2024, amounting to $7.3bn (£5.6bn).
The firm also saw its annual gross profit rise by nearly 22 per cent to $5.4bn (£4.1bn) for the same period.
