NZ's 200 top tech exporters grew 11% in 2018

The TIN200 group of New Zealand’s 200 largest technology exporters collectively grew their revenues by 11% to NZ$11.1 billion ($10.2 billion) over the past year, according to the 2018 Technology Investment Network (TIN) report.

This marks the second year of more than NZ$1 billion in growth over the past three years. The companies also saw a collective 38% increase in profits for the year.

Overall exports from the TIN200 grew 12.4% over the past year to reach nearly NZ$7.9 billion, the report shows. The main contributor to the rise in revenue was an increase in exports to North America, Australia and Europe.

Meanwhile, the top 200 companies collectively increased their R&D spending by 10% to nearly NZ$1 billion.

New Zealand Trade and Export Growth Minister and Minister for Economic Development David Parker welcomed the findings, and said that recent government initiatives are expected to sustain this rate of growth.

“The government is committed to improving the wellbeing of New Zealanders and one important factor in that is ensuring as a country we use our skills in areas where we have a competitive advantage. It’s great to see technology companies playing a role in this,” he said.

“The combination of our 15% R&D tax credit and the [NZ]$1 billion a year from the Provincial Growth Fund will support these welcome trends.”

Meanwhile, TIN’s report also named the top 10 companies within the TIN100 with the largest revenue growth in 2018. IT company Datacom Group topped the list for the second year running with revenue growth of NZ$112.6 million, followed by accounting software company Xero with NZ$111.2 million and Fisher & Paykel Healthcare with NZ$86.4 million.

Rounding out the list were Pushpay (NZ$49.2 million), followed by Douglas Pharmaceuticals (NZ$36.2 million, Transaction Services Group (NZ$30.7 million), Gentrack Group (NZ$22.5 million), Scott Technology (NZ$21 million), Invenco (NZ$20.8 million) and McKay Ltd (NZ$20 million).

Finally, the report names cloud video production platform 90 Seconds as the scale-up with the largest revenue growth in the past year (NZ$7 million), followed by intelligent transport systems company HMI Technologies (NZ$6.5 million) and BPM software company Promapp Solutions (NZ$5 million).

Image credit: ©iStockphoto.com/violetkaipa

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