United Kingdom
Sunday Times/BDO Tech Track 100 League Table
The fastest growing UK privately owned TMT companies announced
BDO, the accountancy and business advisory firm, is delighted to be sponsoring this year’s Sunday Times Tech Track 100 league table which ranks Britain’s fastest growing privately owned Technology, Digital Media and Telecoms (TMT) companies by sales growth over a three year period.
The league table tells an interesting story, showing that, despite the economic downturn, many innovative and emerging businesses from across the sector have achieved significant growth over the last three years. Also, a number of sub sectors have performed more strongly than others, such as IT Outsourcing, from which 21 companies featured in the league table. These companies offer services such as cloud computing and managed hosting to a range of industries. Other prominent companies include those servicing the digital media &entertainment, telecommunications, and online consumer services industries.
Julian Frost, Head of TMT at BDO commented “It is encouraging to see so many high performing TMT businesses despite difficult market conditions. The resurgence in private equity and venture capital funding is certainly a contributing factor in that this is allowing businesses to deliver and develop their technology. It is also good to see that progress is not confined to one particular area with a number of growth sectors such as cloud computing, managed hosting and telecommunications.”
Other key findings to come out of Tech Track 100 include:
Venture capital fundraising - There is a marked resurgence in venture capital / private equity investment, with 22 companies having received funding over the past 12 months, compared to six in last year’s league table.
Profitability - 80 companies in the league table are in profit and achieving a margin of 11%. Of the 19 loss-making companies, 17 are backed by venture capital or private equity
Regions - The majority of companies on the league table are headquartered in London (55) and the Southeast (13).
This year’s Tech Track 100 also features a new ‘Ones to Recognise’ category, for companies which might not have met the criteria for the Top 100 but have still achieved significant growth and look likely to reach the Top 100 in the near future.
The 11th annual Tech Track 100 was published in the business section of The Sunday Times on Sunday 18th September 2011.
Please click here to view the Tech Track 100 league
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