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Media release

24 OCTOBER 2012

Pulse Utilities NZ Takes Top Ranking on 2012 Deloitte Fast 50

Electricity retailers lead the pack for the second year running

Pulse Utilities NZ has taken the number one ranking on this year’s Deloitte Fast 50 with a staggering 2637% growth, while fellow electricity retailer PowerKiwi comes in at number two with an impressive 1916%. Nelson-based McCashin’s Brewery was third, achieving 1836% growth.

The annual Deloitte Fast 50 index, announced tonight at simultaneous events in Auckland, Hamilton, Wellington, Christchurch and Dunedin, ranks businesses according to their revenue growth over the past three years and sets the benchmark for high growth businesses in New Zealand.

National leader of the Fast 50 programme, Deloitte Partner Stephen Nicholas, says Pulse Utilities NZ picks up where 2011 winner Powershop left off, challenging the status quo of the electricity industry with their Just Energy brand.

“Pulse Utilities has achieved remarkable growth by sticking to the simple formula of providing full service with the best possible local price for its customers. By focussing on this combination of customer service and a low price in areas of New Zealand that may not seem like a priority for the bigger players in the industry, Pulse has differentiated itself from the pack,” he says.

“Both Pulse Utilities, and second place PowerKiwi, clearly demonstrate that there is room for independent retailers to achieve extraordinary growth in the New Zealand electricity industry.”

Mr Nicholas says this year’s index has demonstrated once again that doing the basics right goes a long way towards achieving business success.

“Things like having a deeply rooted culture of values and integrity, a strong customer-centric focus and the good sense to embrace collaboration with the right partners at the right time can help businesses catapult ahead of the competition,” he says.

“What Deloitte Fast 50 winners have in common is that they are phenomenally focused on these things.”

To make the 2012 Deloitte Fast 50, companies had to achieve growth of 154%, while growth of at least 480% was required to make the top 10 on the index.

The 2012 group of Deloitte Fast 50 businesses grew the New Zealand economy by $637 million in the past three years and created 1376 jobs.

This year’s index also saw three businesses achieve sustainable high growth by returning to the Fast 50 index for a third time: Futrix, K9 Natural Food and Simply Energy.

Along with being the number one ranked business on the Fast 50, Pulse Utilities NZ took out the national award for fastest growing retail or consumer products business, while McCashin’s Brewery won the national fastest growing manufacturer award. PowerKiwi, the number two business on this year’s index, was the overall Wellington regional winner.

Other national category awards went to designer jewellery maker Kagi for fastest growing exporter, 2degrees Mobile for fastest growing technology business, Konnect Net for fastest growing services business, CBL Insurance for fastest growing mature business and Wellington-based Global Horticulture New Zealand was the fastest growing primary sector business for the second straight year.

For the full Deloitte Fast 50 index, go to www.fast50.co.nz

The 2012 Deloitte Fast 50 by region

Auckland:
Pulse Utilities NZ, Konnect Net, 2degrees Mobile, MediaCom, Ecoya, Au Pair Link, ICONiCITY, The Collective, Selah Renovations, Tomizone, Gopher, ProjectManager.com, Avalanche Coffee, CBL Insurance Limited, Invivo Wines New Zealand, Kagi, Stellar Consulting Group, SnapComms, SublimeNZ, Hampton Jones Property Consultancy, KernMobile, Dbvisit Software, 2talk, Milford Asset Management, Dirtworks

Waikato:
Sportsfuel, Reduced to Clear

Bay of Plenty:
Speed NZ, Bay Family Homebased Childcare

Taranaki:
Shotgun Supplements

Manawatu:
New Zealand Travel Brokers

Wellington:
PowerKiwi, Powershop, Xero, Snapper Services, Futrix, Global Horticulture New Zealand, Key Skills Recruitment, Simply Energy, LifeDirect, Survive-it, Freeman Media, Optimation New Zealand, GO Healthy New Zealand

Nelson/Marlborough:
McCashin’s Brewery, Flightcell International, Redwood Cellars

Canterbury:
Plato Design Agency, K9 Natural Food

Otago/Southland:
Night’n Day Foodstores

About the Deloitte Fast 50

The Deloitte Fast 50 index ranks the top 50 businesses in New Zealand according to their 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, and have had operating revenue of at least $300,000 in the 2009/10 financial year.

As well as the national Fast 50 index, there is a national award for the fastest growing primary sector business and in each of five regions six awards are made for the fastest growing manufacturer, technology business, services business, retail/consumer products business, exporter, and mature business (operating for 15 years or more).

All technology businesses which enter the Deloitte Fast 50 are automatically nominated for the Deloitte Technology Fast 500 Asia-Pacific index announced in Hong Kong on 6 December.

The number one ranked companies since the programme began in 2001 are:

2001: TelstraSaturn, telecommunications
2002: Marshal Software, internet security
2003: Prolificx, electronics
2004: Trade Me, online auctions
2005: 42 Below, vodka
2006: HRV, home ventilation
2007: Energy Mad, eco-friendly light bulbs
2008: Watson & Son, manuka honey/healthcare
2009: New Zealand Honey Co, honey products
2010: Telecom Rentals, telecommunications equipment finance
2011: Powershop, online electricity retailer

About Deloitte in New Zealand
Deloitte New Zealand brings together more than 800 specialist professionals providing audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. Our people are based in Auckland, Hamilton, Wellington, Christchurch and Dunedin, serving clients that range from New Zealand’s largest companies and public sector organisations to smaller businesses with ambition to grow.

Deloitte’s local experts draw on best practice and innovative methodologies from around the world as part of Deloitte Touche Tohmatsu. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s approximately 182,000 professionals are committed to becoming the standard of excellence. For more information about Deloitte in New Zealand, go to our website www.deloitte.co.nz

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/nz/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.

ENDS

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