MMT plc's ecommerce consultancy arm plans to double in size over the next 12 months after announcing pre-tax profits of £250,000 in its first year of trading.

MMT Management Consultancy's total turnover grew to £1m after it won a number of key insurance contracts, including Aon, AIG, Wellington, Wise, and the Lloyd's Forum project.

Paul Marks, director of MMT Management Consultancy, said: "We will be a sizeable organisation next year and we should be taking on another 10 to 15 consultants in addition to the 15 we have currently."

Marks said that the firm intended to continue to develop its core insurance client base of which 60% is based in London, 30% in the US and 10% in Europe.

MMT Management Consultancy is managing the initial introduction of the Lloyd's and International Underwriting Association's Forum project.

The project aims to streamline and reform the claims and endorsement systems of the London insurance market across all classes of business starting in 2001.

MMT Management Consultancy's parent ,MMT plc, has achieved a pre-tax profit of £6.2m on a turnover of £37.7m.