New Zealand Honey Co, the country’s single largest producer of specialty honey, topped the 2009 Deloitte Fast 50 list.
Matt McKendry, Deloitte’s Fast 50 leader, said New Zealand Honey Co. was an example of a company developing high-value niche products from an indigenous Kiwi source, and exploiting their “massive value-add potential”.
He said the Deloitte Fast 50 had made a habit of identifying emerging industries and honey was another great example. “New Zealand Honey Co. follows in the footsteps of last year’s fastest growing company, Masterton-based Watson and Son. Based on the performance of these two companies, there is no reason to think honey cannot become a much larger industry than its current $100m size, and become a major industry for New Zealand.
Honey provides opportunities for businesses using it as both a food and a farmaceutical.
McKendry said that none of the companies which made the list had done anything outrageous to cope with the recession, if anything they had succeeded by concentrating on the basics.
“All the discussions and interviews we have done this year across New Zealand indicate to us that Fast 50 companies navigated their way through the difficult economic times by making sure they have the fundamental elements of their business right. The key elements are retaining a great team, nailing a product or service niche, having a thorough understanding of their markets and being active with their customers. Great performers in a recessionary environment are doing all the same things that great performers do in economically rosy times.”
Fourteen companies in this year’s list have been in revious Fast 50s. They are:
NextWindow, Torpedo7 (4 times); Digital Island, RimuHosting, Triodent, Working In, Observatory Crest (3 times); Catch, Enztec, Futrix, Mobile Mentor, Seales, Synlait, Results.com (2 times).