NZ's $8 billion tech sector continues growth
New Zealand’s technology sector is continuing to grow export revenue and employ more staff despite challenging global market conditions.
That is according to the Technology Investment Network (TIN) 100 Report, analysing the performance of the top 100 New Zealand-founded high-tech companies.
The report monitored the performance of New Zealand’s 200 largest technology exporters in the areas of ICT, high-tech manufacturing and biotechnology.
During 2011-12 TIN100 companies increased their combined revenue by 2.2% to $7.28 billion, with the next 100 companies ranked by revenue growing by 4% to $679m.
“As the revenue profile of these companies gets larger they are showing increasing maturity and a preparedness to invest in their own futures,” says Greg Shanahan, TIN100 Report publisher.
“There are larger companies in record numbers.
"An all-time high of 34 with revenues over $50 million and a record number of 18 with revenues over $100 million, up by 4 and 2 respectively."
According to the report, many successful companies are generating revenues through computer outsourcing, primary sector technologies, payments/financial service solutions and production and material handling equipment.
Top Ten Companies by Revenue 2012:
*Fisher & Paykel Appliances - $1.04 billion
*Datacom Group - $788 million
*Fisher & Paykel Healthcare - $516.7 million
*Tait Radio - $200 million
*Gallagher Group - $187 million