Wednesday, December 3rd, 2014 - in-business magazine

Last year’s winner of the in-business Fast Movers competition, Vinomofo, has narrowly missed out on being crowned South Australia’s fastest growing company for the second year running, placing third behind LED light manufacturer Haneco Lighting and fast food franchise Bing Boy.

Announced at a breakfast held this morning at the Adelaide Entertainment Centre, Adept Technology (formerly Adelaide Interim) and Beachport Liquid Minerals rounded out the top five (see below for the full list of finalists).

This year marked the 10th anniversary of Fast Movers, which receives strong support from BDO.

Haneco Lighting, founded in October 2011, was a clear winner with 314.55% average turnover growth during the past three financial years. In FY14 the company, which is based in Kurralta Park and has 10 employees, turned over just shy of $5.6 million.

The turnover of Fast Movers finalists ranged from $31.3 million to $351,885 in FY14.

“This is great recognition and also great encouragement for our staff to do even better in the next 12 months,” company director Nicho Teng told the crowd of approximately 380 people.

“I never could have imagined that Haneco Lighting could be in this position today, so our future prospects are very exciting.”

Taking part in the panel discussion was a 30-something quartet: Ming Ma (Bing Boy), Martin Perelman (Silk Laser), Rebecca Faraone (Colour Cosmetica) and Glen Vollebregt (Student Rooms).

All four spoke about their growth in what has been a tough economic climate, while “red tape” issues that small businesses regularly have to overcome was another key talking point.

“The people in this room and the companies they represent move a lot faster than what the government does, that’s for sure,” Mr Vollebregt said.

Fast Movers founder and in-business publisher Graham Wakeling said the competition has always held a special place because of the energy and vitality it brings.

“Knowing that fresh entrepreneurial blood continues to propagate new local businesses, creating local jobs and a sense of optimism, is worth more than all the tea in China, isn’t it?” he said.

“This year’s Fast Movers breakfast featured our youngest panel ever – four young and energetic entrepreneurs driving home-grown multimillion dollar businesses. If I could define in one sentence what South Australia needs right now, then I have just said it. Show me anyone who could disagree.”

2014 FINALISTS:

 

RANK

COMPANY

AVG. ANNUAL

T/O GROWTH*

FY14 TURNOVER

1

Haneco Lighting

314.55%

$5,559,108

2

Bing Boy

204.16%

$4,871,940

3

Vinomofo

98.88%

$15,220,000

4

Adelaide Interim

82.25%

$2,441,484

5

Beachport Liquid Minerals

76.87%

$3,049,707

6

Suntrix

73.25%

$29,701,171

7

Silk Laser Clinics

57.69%

$4,029,607

8

CPR Pharma Services Pty Ltd

52.73%

$13,734,392

9

Chamonix

52.15%

$8,506,182

10

Redarc Electronics

44.46%

$24,967,689

11

Big Screen Video

44.10%

$4,339,668

12

Colour Cosmetica Academy

43.57%

$769,345

13

LeetGeek

39.77%

$6,693,709

14

Harris Real Estate

36.89%

$8,864,715

15

RDA Accountants & Advisors

35.28%

$526,012

16

Barossa Fine Foods

31.40%

$31,300,000

17

Gelista

30.60%

$380,000

18

Catapult Wealth

25.93%

$820,537

19

Landcover.com.au

25.80%

$351,885

20

Student Rooms

25.18%

$1,070,474

21

Avinet

21.52%

$1,495,670

22

The Physio Clinic

20.89%

$1,252,860

23

Baker Advertising & Marketing

20.80%

$13,447,163

24

Hedges Asset Planning

19.30%

$1,224,675

25

Behind Closed Doors

18.30%

$1,407,380

 

*Average annual turnover growth during the past three financial years.

 

PREVIOUS WINNERS:

 

YEAR

COMPANY

2005

Top Gun International

2006

AAA Financial Group

2007

Beach Petroleum

2008

Australian Semiconductor Technology Co.

2009

Xceptional Recruitment

2010

Zen Home Energy Systems

2011

Move Yourself Trailer Hire

2012

BRS

2013

Vinomofo

 

NOTE FOR EDITORS:

To have been eligible companies must have met all of the following criteria:

• HEAD OFFICE – registered head office in SA;

• TURNOVER – min. $200k p/a in past three financial years;

• SALES – max. 50% of revenue derived from any one customer;

• OWNERSHIP – private or public company that is not government managed or government owned;

• SUBSIDIARY – not a subsidiary of a company itself which itself does not meet all eligibility criteria.

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