IT firm set for strongest period of growth in its 17-year history

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A Caerphilly-based IT firm is set to record its strongest ever period of growth, despite the current economic situation.

Team Metalogic, which is based on Caerphilly Business Park, was set up 17 years ago.

According to its CEO, Mike Parfitt, the firm’s growth is down to the industry’s need for stability amid an uncertain economic landscape.

This year, the company has secured six new clients, which has seen its monthly revenue increase by more than 30% from the same period last year. The firm is expecting this figure to rise to 41.7% over the next six months.

This has resulted in a projected growth of 27% in its seven-figure turnover – meaning it is expecting to exceed a turnover of £1.4m, as well as a 10% increase in profits.

Mr Parfitt said: “To say the past two years have been turbulent for businesses is a bit of an understatement.

“Between Brexit, Covid, sudden inflation, market changes and the energy and cost-of-living crisis, everyone feels in a constant state of flux.

“However, for those in the industry that offer solutions to such challenges, there has been a strong uptake and that’s certainly something we have found over the past 12 months. 

He also said that while the pandemic caused disruption, it did “accelerate the uptake of remote technology by three or four years”.

Mr Parfitt continued: “People have had to come to terms with the fact that something big can happen in a very short period of time, be it lockdowns, extreme weather, dramatic market reactions or, now, potential winter blackouts and a recession.

“Businesses need to be agile and prepared to solve sudden challenges, and in that, many of our clients have found huge value in our offerings.

“It’s important for us now to continue building on our services to maintain this momentum as more businesses seek to protect themselves from further disruption – something we forecast will see our support and planning services result in further growth for us, and for the sector as a whole.”