NZ Technology Report Names Invenco as “One to Watch”

NZ Technology Report Names Invenco as “One to Watch”

Auckland NZ 17 October, 2017. The New Zealand TIN Report for 2017 has been released and Invenco Group Ltd features on its “EY Top 10 Companies to Watch” list for the second time, having previously made the list in 2015.

“We are in extremely good company in an industry that, according to the report, has set a new milestone this year, recording just over NZ$10 billion in combined revenues with more than NZ$7.3 billion sourced through exports, “ says Invenco CEO, Gavin Lennox.

“Invenco has proudly contributed over 100 jobs to the economy in the past year and is on track for a continued high revenue growth trajectory. The TIN200 is giving everyone visibility of not just our progress as a company, but as an industry. FinTech is one of the highest growth sectors within the report and it is no accident the US is the key export market.”

In the official press release, it states: “The TIN200 companies, which are ranked by revenue, now contribute the equivalent of 10% of all New Zealand exports, highlighting the integral part that the sector plays in the country’s economy. This places it third behind the contributions of dairy and tourism as a source of offshore revenue. Two thirds of the offshore revenue growth can be attributed to a robust 18.8% increase in TIN200 revenues in the North American market”

The report, which is produced by Technology Investment Network (TIN) is sponsored by New Zealand Trade & Enterprise, Callaghan Innovation, Spark, EY and AJ Park. It was presented at an awards ceremony held at St Matthew’s in the City in Auckland where Invenco was represented by CFO Matthew Gibson and CPO Mike Ullrich.

According to TIN Managing Director, Greg Shanahan there are a number of notable findings from the report: “We’ve seen a sustained increase of around 8% in both revenue growth and exports but more significantly, the real story is in the integral part that the technology sector now plays in the country’s economy.”

TIN200 companies created 4,352 new jobs to employ over 43,000 staff globally with an average salary of just under NZ$84,000. “The broadening economic impact of this growth is creating opportunities throughout New Zealand society”, said Mr Shanahan.

To read the full press release visit: https://tin100.com/2017-tin-report-press-release/