Perth-based PharmAust Ltd has topped the local contingent in the Deloitte Tech Fast 50, claiming sixth spot in the national league ladder for 2006 and leading three other compatriots.
Perth-based PharmAust Ltd has topped the local contingent in the Deloitte Tech Fast 50, claiming sixth spot in the national league ladder for 2006 and leading three other compatriots.
PharmAust, headed by former WA Business News 40under40 Award winner Paul D'Sylva was the only WA company near the top of the list, with growth of 1892 per cent.
Mr D'Sylva told WA Business News the company was "firing on all three cylinders", and that PharmAust aimed to grow its national franchise next year with a greater presence in the generic prescription drugs market.
Despite a calamitous year iiNet was 43rd nationally with 162 per cent growth, while Change Corporation ranked 44th with 154 per cent growth, and ASG Group ranked 47th with 145 per cent growth.
Below is the release from Deloitte:
Minister for Communications, Information Technology and the Arts, the Hon. Senator Coonan, today announced the 2006 Deloitte Technology Fast 50 Australia winner was Unwired Group Limited, which achieved a revenue growth of 6,846% over three years.
Senator Coonan said the Deloitte Fast 50 results were the strongest ever recorded and reflected the resurgence of the Australian technology industry as leaders in the Asia Pacific region.
"This year companies ranked in the Fast 50 recorded a minimum growth level of 132%," Senator Coonan said.
Deloitte Perth Partner, Peter Rupp, said WA technology companies showed significant growth in 2006.
"Four WA companies were profiled in the Deloitte Tech Fast 50 and achieved significant revenue growth over the last three years," Mr Rupp said. "Perth-based pharmaceutical group PharmAust ranked 6th in Australia and 1st in WA, with growth of 1892%. iiNet was 43rd nationally and second in WA with 162% growth, Change Corporation ranked 44th with 154% growth, and ASG Group ranked 47th with 145% growth."
Mr Rupp said the overall results this year were so strong the top 70 Australian companies would be included in the ranking of the Deloitte 500 fastest growing companies in the Asia Pacific region this year.
"The top five companies in 2006 would have headed the Australian list in each of the past five years, with the exception of 2004, when Bill Express topped the ranking in Asia Pacific with over 54,000% growth.
"Unwired's winning growth rate of 6,846% was the second highest growth rate ever recorded since the program began in 2001," Mr Rupp said.
"For the second year running the fastest growing industry segment in the Deloitte Technology 50 was internet based companies, with 34% of the companies from this sector.
"The success of these companies reflects the growing market appetite for internet and broadband services.
"However, the successful new breed of technology companies have learnt from the 'tech wreck' and put in place solid business models with steady incremental growth targets that were more cash flow positive and therefore, more profitable," Mr Rupp said.
Led by CEO David Spence, Unwired made its debut in the Fast 50 this year. Unwired is a Sydney based public company dedicated to building a nationwide, fixed wireless telecommunications network offering carrier grade internet services and voice services.
Also based in Sydney is the runner-up company, Mirror Image Access (Australia) Pty Limited (MIA) which enjoyed growth of 6,627%.
"MIA is a global provider of mobile technology and content services, bridging the gap between your mobile device and music, entertainment and media.
"Two stalwarts of the Australian technology industry, Seek and Hitwise, also deserve an honourable mention this year, as they both marked five consecutive years of fast growth to again feature in this year's Fast 50," Mr Rupp said.
As part of the Deloitte Fast 50 program, participating CEOs were surveyed about what they considered to be the future challenges for innovative technology companies to sustain a competitive advantage.
Deloitte TMT Corporate Finance Partner, Damien Tampling, said many CEOs surveyed identified capital raising as key to sustaining success and growth.
"Within this sector in particular, many are starting to look for not simply capital, but investors and strategic partnerships that also bring other capabilities to the table such as technology know how, media distribution or in some cases relevant licenses," Mr Tampling said.
"Capital raising in its many forms, is one of the most important challenges for fast growing companies, with almost 40% of the CEOs we talked to indicating that their companies had looked to either venture capital or private equity to either get off the ground or service its growth needs within the last 12 months.
"Many companies are also noticing that in the last 12 months their products and/or services have started to become more mainstream.
"Whilst the 'dot-com crash' was a set back for the space, the business community are is generally now a lot more savvy in regards to picking a good investment from bad, and knowing that this is a space that no business can ignore, from media companies to banks, telcos to travel agents.
"This level of mainstream awareness is helping many of the companies in this year's list.
"Government grants and tax incentives are also important as other major sources of funds for developing technology.
"However, most CEOs believe the real challenge for fast growing companies is to maintain back-office stability and efficiency, while ensuring they also maintain the benefits they have as a small organisation with close customer contact and in many cases, an extremely innovative, fast thinking and fast moving culture," he said.
"As Australian companies continue to grow, they will also need to address the challenges posed by the emerging might of India and China and this is at the forefront of most CEOs minds as they think about expanding into overseas markets.
"Asia-Pacific is clearly the geographic market that the majority of the companies thought would provide the best opportunities, with North America, UK and Europe very close behind with 17%, 18% and 16% of companies wanting to grow into these areas respectively.
"However, proving one's business model at home is critical," Mr Tampling added.
