Deloitte has announced a list of what it believes is Australia's 50 fastest growing technology companies, with four groups from Western Australia making the grade.
Deloitte has announced a list of what it believes is Australia's 50 fastest growing technology companies, with four groups from Western Australia making the grade.
Featured in the Deloitte Technology Fast 50 from WA are ASG, iinet, Commtech Wireless and NGIS Australia.
The Deloitte list ranks the 50 fastest growing technology companies, public or private, based on percentage revenue growth over three years (2003 to 2005), and includes all related industry sectors.
Commtech Wireless has made the list for four years running.
The full release can be read below.
Deloitte today announced Australia's fastest growing technology companies, with New South Wales-based People Telecom - a full-service telecommunications company that offers a range of products including broadband internet access, fixed wire phone services, mobile phone services and corporate data products - ranked the overall winner with three-year revenue growth of 2,410 per cent.
The average three-year revenue growth of the fifty companies was 376 per cent and the average growth of the top ten companies was 1330 per cent.
Deloitte Growth Solutions partner, Ms Julia Bickerstaff, says "The upturn in the technology sector continues."
"The Australian technology industry is maturing and producing companies that are developing innovative products, generating robust growth, and are able to compete on the global stage.
"The winners of the 2005 Deloitte Technology Fast 50 represent an incredible $2 billion of revenue earned in 2005, double that of last year's winners.
"The upturn in the sector is providing a healthy breeding ground for new companies.
"Thirty new entrants featured in the 2005 Deloitte Technology Fast 50 across a wide range of disciplines," Ms Bickerstaff says.
"Last year's winner of the Deloitte Technology Fast 50, Bill Express, has stayed on its growth path increasing its revenues to over $400 million this year," Ms Bickerstaff says.
"Hitwise, Seek, IWL and Commtech Wireless have also stayed the course, making the Deloitte
Technology Fast 50 ranking for four years running.
"These companies have laid down solid business foundations during the technology downturn and are now well positioned to enjoy a more favourable technology environment in the future.
"One of the common traits of the winning companies is they are very customer-focussed. They have listened to their customers and developed products and services the market wants, rather than developed products purely to showcase their hi-tech capabilities," Ms Bickerstaff says.
For the third year in a row, Victoria has produced the highest number of fast growing technology companies with 20 winners (40 per cent) headquartered there. New South Wales was also a strong performing state with nearly one third of the winning companies based in NSW. South Australia supplied six winners, Queensland five winners and Western Australia four winners.
"This year is the first year that internet companies have had the highest number of winners (38%), helping to restore faith in the "dot.com" sector," Ms Bickerstaff says.
Software companies were the second-most represented sector (20%), however representation has dropped from previous years, 2004 - 30% and 2003 - 42%. The Communications sector remained steady with eight companies (16%), the same as last year. The IT sector doubled with eight winners this year (four in both 2004 and 2003). Representation from the semi conductors and Life Sciences sectors declined from last year with two and three winners respectively, compared to five and four last year.
Each year as part of the Deloitte Technology Fast 50 program, a Rising Star award is given to
companies that may not meet all of the eligibility criteria, but who are making a name for themselves through the development and commercialisation of highly innovative technology.
This year's Rising Star award recipient is MGM Wireless Ltd who have harnessed SMS technology to create a product which helps to improve educational outcomes for children.
