TIN Report ranks Enprise (NZX:ENS) among 2021’s top ten Absolute IT Supreme Scale-Ups

Highlights

• Enprise Group has been ranked among the top ten Absolute IT Supreme Scale-Ups in the current year’s TIN Report.
• TIN is a private company that facilitates the growth of the technology export sector in New Zealand.
• The current year’s Absolute IT Supreme Scale-Ups reported a combined growth of NZ$44.04 million.

In a noteworthy development, NZX-listed investment company Enprise Group Limited (NZX:ENS) has been featured in the top ten Absolute IT Supreme Scale-Ups in the TIN Report for 2021. It is the second consecutive year that the Company has achieved a top ten growth ranking.

ENS has invested in high-growth tech companies complementing its core ERP capability. A 30% growth in its revenue has helped Enprise Group bag the sixth spot on the list. The firm’s revenue came in at NZ16.1million, up NZ$3.7 million for 2021.

The companies in the technology sector have witnessed unprecedented growth during COVID-19 times, and many have been recognised for the same. Technology Investment Network (TIN) facilitates the growth of the technology export sector in New Zealand and has released a report ranking various companies in NZ.

The list of Absolute IT Supreme Scale-Ups is annual TIN Report includes young companies that have witnessed a dynamic burst of growth.  The list takes into consideration the Next100 companies (ranked between 101-200 in the TIN200) which have racked up the largest revenue growth in the past year.  

The TIN Report, which offers an insight into the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters, is sponsored by New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX.

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An Excellent Year for NZ Tech Sector

According to Steve Cotton, joint General Manager of Absolute IT, the technology sector of New Zealand has witnessed “remarkable” growth this year. The growth across the sector has been seen in spite of the COVID-19 pandemic-induced challenges and an unprecedented crunch for talent and skills throughout the country.

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“We commend the remarkable resilience, quiet ambition, and determination that these organisations have, which has allowed them to ‘scale up’ and seize the global opportunities that exist”, he further added.

TIN200 companies hit a milestone

The current year’ Absolute IT Supreme Scale-Ups have witnessed a growth of around NZ$44.04 million, indicating a joint revenue boost of 44.1%. This also surpasses the growth of 5.2% by the remaining Next100 companies.

Also, in what seems to be a hallmark of growing maturity in the tech sector, the TIN200 companies in 2021 hit a milestone, recording NZ$10.4 billion in export revenue from nearly NZ$14 billion in combined revenue. Also, the sector’s revenue growth again smashed the NZ$1 billion mark, coming in at over NZ$1.4 billion. These developments reaffirm the tech sector’s upward trajectory and remain critical to the economic success of New Zealand.

ENS shares were noted at NZ$1.750, on 15 November 2021.