A PENARTH based online ticketing firm has been named one of Wales’ fastest-growing businesses for the second year running.

TicketSource, the online ticketing and box office management system, was named 28th fastest growing company in Wales in the Fast Growth 50 Awards after an increase in revenue of over 121 per cent from 2014 to 2016.

Launched in Cardiff in 2004, TicketSource is now used by over 20,000 registered event organisers and venues throughout the UK, USA and Europe.

In 2016, the system handled online ticket sales for 75,574 different events.

This resulted in a more than 40 per cent growth in ticketing revenues compared to 2015.

Between 2014 and 2016 the company’s revenue increased by 121.2 per cent, up from £804,646 to £1,779,798.

Earlier this year the company moved to larger premises in Station Approach, Penarth and has been recruiting a number of new members of staff.

TicketSource co-founder and marketing director Alexander McLauchlan said: "We are delighted to be confirmed as one of Wales’ fastest-growing business for the second year in a row.

"Our growth has been rapid but sustainable, and has been achieved mostly as a result of word of mouth.

"We hope to continue this growth from our new base in Penarth, building on our past achievements while offering the same high standards of service and a personal touch.

"We look forward introducing many new online ticketing services and features in the coming months."