The business advisory firm Deloitte has revealed the winners in its 2016 UK Technology Fast 50 ranking, which is part of an international programme run by the firm. This is the 19th anniversary of the awards, which come as a recognition of the top 50 fastest growing technology companies in the country. The ranking is based on the companies’ reported revenue growth over the last four years.
Deloitte has shared that the total annual revenues generated by the 50 fastest growing technology companies in the UK amounted to £884 million in the 2015/2016 year. As long as the four-year growth rate is concerned, the British advisory firm explained that it amounted to 1,240%.
The Deloitte Fast 50 is aimed at recognising the fastest growing new companies in the UK technology business. This year, a UK professional online betting exchange company has also found its place in the top 50 of the fastest growing technology entities in the country. Smarkets, which was established in 2008, managed to rank on the fourth positions in the UK technology and innovation index, becoming the only company in the UK gambling industry to be present in this year’s index.
The Chief Executive Officer of the online betting exchange company Jason Trost has shared he was very pleased and excited with the fact that Smarkets had managed to get to the fourth place in the ranking. He also explained he was very optimistic for the upcoming years. Mr. Trost said that the fact that the online betting exchange was included in the Fast 50 ranking of Deloitte was actually a great recognition that came exactly at the right moment, considering the fact that the company was focused on establishing itself among the best technology providers in the UK industry.
This is not the first success of the company in 2016. In September this year, Smarkets was ranked fifth in the annual Tech Track 100 list of the Sunday Times. The UK online betting exchange could also be proud with itself thanks to its fantastic performance in the fiscal 2015 year. Earlier in 2016, the company posted its 2015 annual report for the year ended on December 31st, revealing a massive pre-tax profit increase amounting to 1,568% as well as a 429% revenue growth.
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Olivia Cole
