Auckland, New Zealand - 14 November, 2018: Invenco® is celebrating its success in the latest Deloitte Fast50 rankings. It is a notable result with Invenco taking fifth place in the Master of Growth Index and 16th place in the overall Fast50 rankings. According to Invenco CEO, Gavin Lennox, very few companies achieve the double ranking and it's very positive recognition of the companies continued growth story.
In announcing the winners on Stuff.co.nz, Deloitte highlighted this year's "super charged" growth. It was certainly reflected by Invenco results, reporting 370% growth over three years putting it into a very credible 16th place on the Top 50 ranking and 428% over five years putting it into fifth place in the Master of Growth Index. According to Deloitte, the New Zealand Fast 50 index is in its 16th year of ranking the top 50 businesses in New Zealand - tracking revenue growth over the past three years.
"Entrants are required to be New Zealand registered companies, have been in business for a minimum of three years, have had operating revenue of at least $500,000 in the 2016 financial year and supply a full set of financial accounts for the past three years. Deloitte does not publicly disclose specific revenue details of each company and it does not reveal profit."
What it does reveal is why companies are achieving high levels of growth.
"The top three factors companies on this year's index said what contributed to revenue growth, aside from "general growth in sales", were new regions/markets, new products/services and increased marketing."
A full listing of both the Masters of Growth and the Deloitte Fast50 Index can be found on the Deloitte Fast50 website.