Halter tops 2024 Deloitte Fast 50 with 15x growth

Halter has taken the lead position on the 2024 Deloitte Fast 50 index with significant growth.

The company, specialising in virtual fencing and pasture management, achieved an impressive 1539% growth and has extended its influence in New Zealand, Australian, and US markets. Halter's app and cow collar technology allow farmers to manage cattle through virtual boundaries and monitor animal health and locations continuously.

Following Halter in the top five of the Fast 50 are OLT with 1237%, Pact Steel with 751%, Franklin Hospital at 477%, and Fortis Travel and Events at 447% growth. The Fast 50 index annually ranks companies in New Zealand based on revenue growth over three years.

James Arlidge, Deloitte Private Partner and Fast 50 lead, commented on the resilience and pioneering nature of New Zealand businesses despite economic challenges. "The growth this year's Fast 50 businesses have achieved over the past three years is a tribute to their agility, innovation and self-belief," said Arlidge. "The variety of industries in the index this year also reflects the depth and breadth of the entrepreneurial talent we have here in Aotearoa."

The services industry leads with 17 businesses in the top 50, along with notable representation from construction, technology, and retail sectors. Notably, technology firms secured the top two spots, reflecting a promising outlook for New Zealand's weightless exports.

Economic challenges cited by this year's Deloitte Fast 50 winners include government regulation, domestic competition, and interest rates. Key growth factors identified were sales increases, enhanced marketing efforts, and geographical and market expansion.

Devoli topped the Master of Growth index with 478% growth over five years, with WasteCo, BlackBull Markets, Groovy Group, and FSL Construction and Interiors rounding out the top five. Devoli provides telecommunications infrastructure wholesale services, offering internet, mobile, and voice solutions across New Zealand and Australia. The company has frequently appeared on the Fast 50 programme since 2021.

The Master of Growth index, started in 2017, ranks fast-growing established businesses, assessing those with sustained growth beginning from a larger revenue base over five years.

Arlidge remarked on the encouraging trend in the Master of Growth index, stating, "This year saw more businesses enter the Master of Growth than ever before, which is a positive sign given the economic uncertainty many have faced in recent times."

He added: "It's humbling and inspiring to celebrate fast growing Kiwi businesses and to see both new and returning organisations taking their places on the indices. Deloitte is proud to showcase the innovators and entrepreneurs whose ability to raise the bar in challenging conditions embodies the 2024 Fast 50 theme, Get set, grow: the future favours the fast. We're excited to see what they achieve in the future," Arlidge concluded.