Victorian companies dominate top 10 BRW’s Fast 100
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29 October 2009
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Victoria has dominated Australia’s Top 10 fastest growing companies in BRW’s Fast 100, showing resilience against the global financial crisis and out-shining the other states.
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Each year BRW finds the 100 fastest growing Australian companies by averaging their annual revenue growth over three years to 30 June. Ranked first, Aussie Farmers Direct averaged annual revenue growth of 330 per cent.
The total revenue of the 100 companies grew to $2.47 billion, up from $1.7 billion last year.
The economic crisis still shook things up with 59 first-timers appearing on the Fast 100 and a greater variety of industries being represented. Only three companies from last year’s top 20 managed to see another year of outstanding growth.
Victorian based Aussie Farmers Direct is an online retailer that home-delivers fresh produce from Australian farmers and has flourished due to the economic crisis. “There is no doubt the trend towards eating at home more has helped us”, said Braeden Lord, CEO Aussie Farmers Direct.
“In tough times, people research purchases online more, meaning more people find us. People are also more price conscious,” said Hal Pritchard, founder of another online retailer that made the list.
Despite a tough year, information technology was the leading sector with 28 companies making the list and four listed in the top 10. This was followed by property and business services and retail trade.
Andrew Thomas, CEO of Thomas Duryea Consulting which grew by 157 per cent, said the businesses that have done best are those offering cost-saving solutions and essential IT products and they would continue to flourish despite the global financial crisis.
“We’re providing virtualisation consolidation services, so we’re helping customers save money,” he said. “If you’re in the right IT business and it’s non-discretionary spending then I guess you’re still going to see demand,” Mr Thomas said.
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