A MONEY comparison company in Cirencester is celebrating after the business achieved recognition in the Sunday Times Fast Track as one of the fastest-growing firms in the UK.

Money.co.uk, the fifth biggest money comparison site in the UK, was included in the prestigious list showing Britain's private firms with the fastest-growing profits during the last three years.

The company, based in Cecily Hill, was named the South West's highest ranked company and also one of the top three nationally.

The Sunday Times said the Cirencester firm has made a strong contribution to the local economy. Under founder and managing director Chris Morling, 45, profits grew an average of 149 per cent a year to reach £10.7m in 2013.

Mr Morling said seeing the business included in the Sunday Times Fast Track was an achievement they were very proud of.

"This is testament to the amazing team I have been lucky enough to work with over the past six years, building the business from a one man band in my house to a 35 strong workforce.

"Fear of failure is not something we suffer from. Any failure we have encountered over the years has always helped us to get it right in the end. We work in a culture of testing and experimenting to enable us to succeed, sometimes failure is an important part of this process.

He added: "We believe in doing things differently and don't follow industry convention which can sometimes waste valuable resource on unnecessary tasks. The adoption of this culture has played a pivotal role in making the business so profitable, a practice I still stand by and would urge anyone to adopt when building a business."

The list highlighting money.co.uk was compiled by Fast Track, the Oxford-based research and networking events firm.