Welltel attributes its growth to reliability and adaptability
Welltel are delighted to be ranked 22nd in Deloitte Technology Fast 50 2016 and celebrate their 3rd consecutive year as winners.
Dublin, Ireland. 07/11/2016 — Welltel today announced that it ranked number 22 in the 2016 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years. This is the third year running for Welltel to feature on the winners list, climbing in position each year. Last year Welltel ranked 39th so it was a significant jump up in position this year to 22.
Welltel’s MD, Ross Murray, credits their reliability and adaptability for the company’s growth over the past four years. He said, “We pride ourselves on delivering a reliable and cost-effective service. Over the past 12 months, we’ve worked closely with a number of our customers to better understand their needs and the needs of their respective industries. It’s our ability to adapt and to improve our technology in-house which has seen our company continue to grow. Being a winner at the Deloitte Fast50 Awards, for the third year in a row now, is evidence that we’re on the right track.”
The Deloitte Fast 50 measures Ireland’s fastest growing indigenous companies in the tech sector. The awards, which are in their seventeenth year in Ireland, recognise the contribution of indigenous companies to the overall technology sector in Ireland, and indeed the overall economy. Cumulatively, the 2016 Fast 50 winners generated approximately €1.6 billion in total annual revenues in 2015. The average revenue of companies featuring on the ranking was approximately €31 million, while the average growth rate of the companies over the last four years was 270%. On average, exports account for 61% of turnover for this year’s winning companies, while R&D expenditure represents just under a fifth of turnover (18%).
Announcing the winners of the Deloitte Technology Fast 50 programme, Joan O’Connor, Partner, Deloitte said: “We are delighted to be recognising these exceptional and innovative Irish companies. Their contribution to the technology sector is critical to the success of the industry overall in Ireland and it is clear from the turnover derived from exports that they are having considerable success in global markets also. This ambition is hugely encouraging to see and will be increasingly important in a post-Brexit marketplace, where pressure on margins may necessitate diversification into other markets. For this reason, and due to the wealth of opportunity that presents itself, we expect developed and emerging markets to be increasingly important for Irish technology companies. The success that has been achieved to date by the indigenous technology sector leaves them well placed to capitalise on this momentum.”
The Deloitte Technology Fast 50 Awards took place in Dublin on 4 November 2016 and were hosted by science and technology journalist, and founder of Whipsmart Media, Jonathan McCrea. Keynote speaker on the night was Mark Casey, Managing Director, Global Media & Entertainment Leader, Technology, Media & Telecommunications, Deloitte.
Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie
PR Contact: Alan Haverty/Emma Duggan, Welltel Ireland Ltd., 01 2541800