Record growth for TM Group with help from RBS

Record growth for TM Group with help from RBS

Swindon-based TM Group, the specialist provider of sophisticated online conveyancing tools, continues to buck the economic gloom with strong earnings, growing numbers of staff and an appetite for acquisitions.

The firm, which recently relocated to a much larger office in Swindon, has banked with Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB) since it was founded in 1999 and RBS CIB remains supportive as the firm invests for growth.

TM Group develops cost effective and efficient online conveyancing services for all stakeholders involved in buying and selling property, including local authorities, conveyancers and mortgage lenders. Despite the depressed economic environment, the company now delivers nearly 100,000 searches per month, equivalent to approximately 500 searches per hour, and the firm’s constant investment in technology and innovation has helped drive profits. In 2011, TM Group reported a turnover of £32.8m, up 5% from 2010, while operating profit increased 160% to £1.1m.

Staff numbers at TM Group have increased over 70% since 2006 to 76 people at the start of 2012 and the firm is continuing to recruit further: the most recent, high profile addition is the new sales and marketing director, Ben Harris. The increase in numbers has meant the firm recently moved to new, larger offices in West Swindon – it has taken a five-year lease on the whole of the top floor of a neighbouring office, Delta 1200.

"Despite the weak economic environment, TM Group is on course to grow by a further 20% this year and the May/June 2012 figures show our average daily revenues are the highest for these months in six years. Our focus on innovation and technology has really helped position us in the UK market; we reduced the search ordering process from 45 minutes to just five and our latest product, an advanced mortgage fraud risk management platform to major UK lenders, continues this drive. We have further aggressive growth plans, through expansion of our services and possibly acquisitions, and I’d like to thank the team at Royal Bank of Scotland Corporate & Institutional Banking for their continued support."

Paul Albone, managing director at TM Group

"TM Group has gone from strength to strength and I like to think the firm is a true local and UK success story. The company is making great investments in its capability, both in terms of technology and staff, and these are really paying off. We have worked with TM Group’s management from a day-to-day banking perspective, and look forward to continuing a strong and very successful relationship."

Amir Yasdi, relationship director at Royal Bank of Scotland Corporate & Institutional Banking in Bristol

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