Lingo24 posts significant growth

Published: 05 September 2018

Lingo24, the Edinburgh tech-enabled translation provider, saw revenue growth of 23% to £5.14m in the first half of 2018, and is on track to beat £10m in revenue for the full year for the first time.

Unlike other mid-sized translation companies, Lingo24 combines strategic consultancy, proprietary technology and translation services to become a true partner to its customers.

Our business has changed beyond recognition...the focus on building long-lasting strategic relationships with our clients is clear in these numbers...

Christian Arno, Founder, Lingo24

 

73% of Lingo24’s revenue now comes from the company’s top 30 accounts (up from 53% in 2015, and 70% in 2017), who are the primary users of this broader offering. This broad, strategic offering is what has driven growth, as net retained business moved up to 108% by the end of the half year. This figure illustrates how much growth is coming from increased spend from existing clients, which include Brewdog, Hunter Boots and adidas.

Christian Arno said new business wins in B2B ecommerce, additional content required due to the introduction of GDPR regulations, and even the World Cup all contributed to demand in the first half. Lingo24’s technology platform is a key part of the company’s success.

The company automates as much of the end-to-end translation process as possible, from content transfer to the translation itself, but professional translators are always involved in initial translation and checking to assure quality...

Full story via SBNN news

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