TFI plots Singapore and US expansion

TFI Group is planning to expand rapidly in the coming year, with growth fuelled by office openings in Singapore and the US.

TFI to open office in Singapore
TFI to open office in Singapore
The agency – which has its headquarters in London and a base in Edinburgh – will open a Singapore site in January 2014, with a staff of three.

Offices in Florida and New Jersey are also set to open next year, while the small Scottish team will expand to capitalise on a "strong pipeline" in the pharmaceutical market in the region, said TFI Group director Simon Maier.

Meanwhile, the agency is now recruiting six new staff to join its 32-strong London team, including a project manager, technology and communications platform manager and a registration and data process manager.

"We have been very keen to quickly develop into a fuller service agency, rather than being a reactive logistics company," explained Maier.

The growth drive follows a "clearout" in early 2012, said Maier, which saw the departure of general manager William Jeavons in April, as well as the business's finance director.

The changes at TFI Group led to an expected decrease in turnover and net profit, with the agency recording a net profit of £16,518 in 2012, down from around £277,000 the previous year. However its gross profit margin increased to 38%.

"We are being ambitious," admitted Maier. "A lot of people think the market is dying, or very difficult, and it is hard but there is work about.

"We have to change tack to make sure we stay with the opportunities. We want to play to our strengths."

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