Third year of growth for Target Group

Ryan Fowler

July 7, 2016

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Financial services outsourcing and software provider Target Group has reported a third consecutive year of strong growth in its annual results.

The figures from the 2015 financial year revealed that EBITDA had increased 17% to £6.8m while turnover reached £51m and assets under management were up to £24bn.

In 2015, Target entered the U.K Structured Products Market through the Hartmoor Financial brand enabling them to both design and distribute retail Structured Products.

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Ian Larkin, co-group CEO Target Group, said: “This is proving to be an exciting time to be involved in the financial services sector.

“Participants across the spectrum are increasingly turning to new operating models and partnerships in order to keep up with the pace of the competition.

“In partnering with Target, organisations get a high quality service and peace of mind when it comes to treatment of their customers. Indeed, having served more than 50 organisations across financial services, ranging from start-ups to traditional banks, we have proven we can deliver consistently to all our clients and their customers.

“As the industry evolves, we continue to see large growth in the demand for advice on process improvement, data analytics, and regulatory matters. As a result, our plan is to continually adapt and innovate to deliver these services at an exceptional standard.”

Bill Alley, co-group CEO Target Group, added: “Having such a diverse range of clients has allowed us to deliver operational excellence.

“By owning our own technology we are able to provide bespoke services in order to meet the requirements of our clients swiftly and more completely than many of our peers.

“To drive success it is increasingly important that we continue to source high quality people and equip them appropriately to succeed in this environment. The aim of our recent recruitment drive was to do just that and we expect our expansion to continue into the future.”,

Last mont Target Group announced that it is to be acquired by global information technology specialist Tech Mahindra,