Hamilton Broadband Network Provider Shines in Deloitte Fast 50

At the annual Deloitte National Fast 50 awards held on Wednesday, 28 October 2009, Hamilton high speed broadband provider Velocity Networks was awarded 29th place. With growth of 217.68% in the past three years, Velocity finds itself in the company of New Zealand's most successful fast-growing companies.

The achievement of such positive growth in some of the most challenging economic conditions many have faced is testament to our high standard of service delivery and innovative product offerings." says John O'Donoghue, Managing Director of Velocity Networks. "It was great to get encouragement from the other attendees for our plans to continue the drive for improved broadband in Hamilton." he adds.

Whilst many companies have hunkered down and reduced capital investment during the recession, Velocity and its partner, Hamilton Fibre Network Ltd, have pressed on with an ambitious programme to roll out their ultra-high-speed fibre network across Hamilton CBD. The 1Gbps (1000Mbps) network now offers fibre access to a significant percentage of commercial buildings in the city.

"We expect the company to continue its strong growth over the next few years." says Shane Hobson, Business Development Manager at Velocity Networks. "Our positive outlook is based on growth in the number of independent service providers offering solutions across our 'open access' community network and the success of our ICT project management and consulting division." he adds.

Other notable Hamilton finalists this year include CBD Corner Pub (9th), CTC Aviation Training (23rd) and Torpedo7 (25th). This year was Torpedo7's fourth appearance on the Fast 50 list.

The Fast 50 is a Deloitte initiative run in 32 countries around the world. This is the ninth year businesses have been invited to benchmark their growth as part of the Deloitte Fast 50, with businesses ranked by revenue growth over a three year period. Over the period surveyed (FY2007-FY2009), the Fast 50 companies collectively added $426m to the New Zealand economy and created 794 jobs.