National, Sydney-based Finite Group of companies has jumped 57 places in the AFR Top 500 private companies list compiled by IBIS World, with a 35% increase in group revenues for 2016 to more than $345 million.
The strong revenue growth came from the Group’s various businesses — 60% of revenue from its technology and digital recruitment businesses — Finite and NineTwenty, and 40% from its fast expanding technology consulting and solutions services business, FinXL.
Finite Group climbed from 215th on the Top 500 list to 158th, on the back of what the company says was “exceptional organic growth within a very buoyant ANZ technology sector”, as well as its acquisition of ITrecruiter, NineTwenty, which it completed in February.
Group managing director, Tracy Thomson, says that the company has undergone a significant business transformation across ANZ in the last 12 months, and "we re-shaped our service offerings to meet evolving market opportunities and emerging sectors”.
{loadposition peter}“The Group is well positioned to continue on its current growth trajectory in FY17 and beyond, with more business improvement initiatives and acquisition activity already underway.”
Thomson says technology is increasingly playing an ”ever larger role in facilitating growth and driving business productivity, particularly with digital transformation, cloud, analytics and cyber security all featuring prominently as necessary areas for investment”.
“The Group has progressively realigned our services around these growth areas with a suite of innovative new service offerings that have been very well received in the market.
“Our continued investment in our sales and delivery teams, our facilities and our technology support systems’ have also played an important role in ensuring we can secure the best talent and meet client delivery expectations, with sustainability always featuring at the forefront of our planning.”
Thomson says the FY16 has seen all parts of the Group achieving revenue growth and increased market share, with Finite and FinXL both posting similar year-on-year organic growth of 35%+.
“New Zealand is also a very important and relatively new market for the Group, now into our second year of trading, and significantly boosted by the recent NineTwenty technology recruitment acquisition. This has added some great people and a similar NZ blue chip client base. Although still early days, the integration is going well, new opportunities abound and we are already seeing substantial growth from this trusted and well-respected NZ brand,” Thomson says.
Thomson also says that FinXL has had another “outstanding year” with continued expansion through new service offerings, particularly the specialist digital division, XL digital, which successfully launched last October.
“All the indications are that there is strong market demand for FinXL’s multi-award-winning services across the Tasman, with FinXL NZ securing its first major project win, with others in the pipeline.
“We are also proud to be the recipient of further industry awards, with Finite recently being named as 'Best IT Recruitment Firm Australia, 2016' by CV Magazine; and FinXL winning its third consecutive ABA100 Australian Business Award, this year for 'Business Innovation', following wins for 'Service Excellence' in 2015; and 'Entrepreneurship' in 2014,” Thomson says.