The Cardiff-based firm has announced growth of 28% with turnover reaching £2.1M in 2015 compared with £1.5M in 2014. The forecast for year end 2016 is set at £2.4M.
Managing Director Andrew Nicholson said “Turnover for 2015 has been encouraging. We have implemented new systems to encourage organic growth by focussing on client services and retention, as well as new business processes. However, our acquisition of JVH Communications back in June was key in reaching our target turnover.” This is the second acquisition TWL has made after the purchase of Danwood Telecoms in 2012.
Business advisory group Mustard consulted on the deal, and Chairman Alan Jones discussed how vital acquisitions are to TWL’s growth plans, “Acquisitions have been a key part of the growth in 2015, adding an additional 30% onto one of the monthly income streams. In 2016, we are targeting acquisitions that will have an even bigger effect on growth figures.”
Other than growth methods such as acquisitions, Mr Nicholson highlights other vehicles for growth that TWL is looking to focus on in 2016: “We are looking at numerous growth strategies, including organic growth through customer service, growing existing customer accounts and developing new accounts. We are also looking to expand the services that we offer to our customers.”
Aggressively growing the business has not been completely smooth for the firm, with numerous challenges presenting themselves across the year. Mr Jones said: “The main challenges have been recruiting the right talent. We have ensured that we take the time to find the right people with the right attitude that fit into the customer service focused culture that we have developed at TWL. Also, we invested in CRM systems and help desk software to ensure that we can track and improve the service that we are providing for our customers.”
TWL plans to make further acquisitions in 2016, with the forecasted turnover figure of £2.4M to be excluding any deals that will be made next year.