Professional services firm, Deloitte, has named the companies that have made it on its Fast 50 Australia 2012 list.
Internet retailer, brandsExclusive (Australia), has topped the list, as well as the Leadership Awards category, which provides special recognition to winners with revenues in excess of $50 million. The company reported a 1335.1 per cent growth rate.
Life sciences company, Australian Renewable Fuels, was the runner-up, followed by software company, SolveIT Software.
The companies reported a growth rate of 1235.7 per cent and 678.9 per cent respectively.
According to Deloitte Technology Fast 50 Program leader, Joshua Tanchel, the sectors that are driving the growth in this year’s Fast 50 are comprised of online, software and the infrastructure companies.
He said the convergence of disruptive post-digital technologies is changing the way businesses must respond to individuals’ needs and expectations.
“We believe the technology shift will continue to become more pronounced as the cost of technology innovation reduces and new business models are developed to take into account the impact of a levelled playing field provided by the Internet,” he said.
Kogan Technologies, Neon Stingray, Cohort Digital and Redbubble were the other Internet companies that reached the top ten fast growth list.
In total, 21 of the 50 companies listed fall under the Internet sector.
Software companies, SolveIT, InfoReady and astutepayroll.com were in the top 10 as well.
Tanchel made a special mention of M2 Telecommunications Group and iiNet, who have appeared in the index for seven consecutive years.
The list indicated M2 Telecommunications Group’s growth to be 94.3 per cent; and iiNet’s at 75.4 per cent.
Deloitte also stated that the total revenue of the index is approximately $2.4 billion – up from $2.2 billion in 2011, with an average three-year revenue for this year’s winners at 229 per cent, an increase from 209 per cent in 2011.
It also claimed the majority of the top 50 companies have been consistently based in NSW since its inception in 2011.