IN PICTURES: Deloitte Fast 50 gets taste of honey

Deloitte’s annual hit-list of New Zealand’s 50 fastest-growing companies was revealed at five events across the country last night, supported by media partner NBR.

The Fast 50 2009 was headed by Dunedin-based New Zealand Honey Co, which clocked a staggering 994.76% growth rate.

It was the second year in a row that a company from the $100 million-a-year honey industry had topped the Fast 50. Last year’s winner was Masterson-based honey/healthcare company Watson & Son.

The New Zealand Honey Co, which operates 14,000 hives, earlier this year signed deals to get its products into around 500 heath stores and 500 supermarkets in the UK - exploiting NZ’s reputation as a producer of safe and healthy honey.

A 250ml pottle of high-end honey can sell for as much as $40 in export markets, or triple that if distilled into spin-off products, such as The New Zealand Honey Co’s fusion drinks and cordials.

No recession for entrepreneurs' exports
At the Auckland leg of the five Fast 50 ceremonies, host Mike Hutcheson quoted Warren Buffet's immortal line about recessionary times: "When the tide goes out, you can see who's been swimming naked."

But that criteria, last night's contenders definitely had their trunks on.

Overall, the recession put barely a dent in the entrepreneur-heavy Fast 50. This year’s cut-off for making the list was 145% growth, against 149% last year.

And combined export receipts for the Fast 50 actually increased from last year’s $270 million to $316 million for 2009. Companies on the list made around half their revenue off-shore.

Taking the number two slot in the Fast 50 was Queenstown-based medical recruitment company MedRecruit, which achieved annual growth of 856.80%.

Dab hand
Third-placed was Auckland company NextWindow, which made its fourth appearance on the list as its revenue 828.84% this year, surpassing $50 million on the back of deals with PC giants HP and Dell (the world’s number one and three computer makers). Both companies produce PCs that incorporate NextWindow’s touchscreen technology.

Chief executive Al Munro told NBR that his company is well-positioned for the year ahead, having recently inked deals with NEC and Sony.

Growth will hinge on the degree of acceptance of Microsoft’s new Windows 7, which supports touchscreen technology, said Mr Munro. NextWindow is hoping that Microsoft’s heavy promotion of touch technology - such as the ability to shuffle photos around a screen using your fingers - at its various Windows 7 launch events will help push the technology toward the mainstream.

Mr Munro also had one gripe, however - that NextWindow had to look offshore (to Kuwait) after been unable to rustle up sufficient private equity at home.

See profiles of Fast 50 winners in this week’s print edition of NBR, and the full list of winners online here.

Photos for NBR and Deloitte by Trevor Coppock (from the Auckland leg of the five Fast 50 ceremonies):

Mahsa Dordahan and Jenny Burgess of Results.com.

Sarah Trotman, Lisa McCallum, Annie Gandar of Bizzone.

Chris Perry and Pam Gilles-Browning of New Image and Jamie Knight of Westpac.

Virag Singh (L) of Deloitte with Terry Hoskins of Enterprise North Shore.

FM Cossey and Geoff Cossey of Chillisoft and Nick MacDonald of Buzz Channel.

Ross Milne and Andrew Burgess (Deloitte), Chad Wilkie (Ignition Partner), and Barry and Kati Colman (NBR).

Linda Ralph, Russell Eastwood, Tish Bell, Caroline Read-Percival and Martin Percival of Achieve Global.

Zac Parish, Jenny Lefebvre and Steve Smith (Chillisoft).

Stu and Roz Cowdell and Glen and Tessa Larsen (Digital Island).

Phil and Val Rowe and Daniel Shaw of Perceptive.