Target Group has reported an increase in turnover over the past year of 22.5%. Revenues have risen from £11.1 million to £22.2 million between 2006 and 2009.

The ambitious company has increased its team by 43% over the past year.

Target now employs over 350 people across the UK, Australia and New Zealand, an increase in headcount of 43% over the past 12 months.

At the year end there were 11 contracts signed or under negotiation, these included contracts to service motor loans, savings products (investment bonds and deposits), commercial loans, residential mortgages, equity release and second charge loans. 25% of the world’s top 20 global banks now use Target Group’s software and services.

James Rudolf, CEO of Target Software, said: “We are delighted to have experienced such growth during what has been a difficult time for the financial industry. Target offers banks and portfolio owners a range of software and outsourced services. It is this versatility and depth of our products and services which have ensured such a successful year.