Cambridge Display Technology Tops Deloitte & Touche Eastern

Tuesday 1st of May 2001 8:00

Cambridge Display Technology Ltd topped this year’s rankings after recording an impressive turnover growth of 4,786 per cent between 1999 and 2001.  The company, which was founded by Cambridge University and a seed venture capitalist in 1992, is the initial developer of light emitting polymers (LEP).  Based on the University campus, it now employs over 130 people and is leading industry efforts in the research and development of LEP technology.

In second place with 1,493 per cent was Longstanton-based Amino Communications Ltd, a leading developer of technologies for system builders and digital designers. Abcam Ltd, based in the Cambridge Science Park, came third with turnover growth of 1,450 per cent.  Founded in 1998, the company is an online resource website for life scientists to find and purchase specialist research products.

Richard Knights, Technology, Media and Telecommunications partner at Deloitte’s Cambridge office, said: “In a year of extraordinary adversity and when achieving growth remained the single biggest challenge faced by the technology sector, companies like CDT, Amino Communications and Abcam have demonstrated how to achieve excellence in niche markets. While 2002 was a period of retrenchment and soul searching for technology companies, during which many elected to rethink their core business strategies, these finalists have continued to reinvent themselves in difficult circumstances.

“The technology sector is now a buyers’ market in terms of human capital,” continued Mr Knights. “As staff turnover is no longer an issue, these companies can concentrate on upgrading the quality of their people. While there are no immediate signs that a recovery is underway, we are seeing these companies position themselves to take advantage of opportunities as and when they arise.”

Deloitte created the Technology Fast 50 five years ago to reach out to UK technology companies and champion innovation in the sector. The programme tracks the growth rates of technology companies in seven regions across the UK and Ireland, culminating in a national ranking in December. This year’s Eastern Fast 50 results bear testament to a diverse technology sector in East Anglia with software, equipment manufacturing and the biotech/medical sector well represented.

This year’s event was once again sponsored nationally by techMARK, the London Stock Exchange market for innovative technology companies. Intellect, the association for the UK’s IT, telecommunications and electronics industries, also supports the programme.

Kenneth Dyer, the London Stock Exchange’s regional manager for the East, said: “In difficult market conditions, it is more important than ever to highlight the achievements of those innovative technology companies that are continuing to deliver new products and services to the market.  The Exchange is committed to supporting the development of the technology sector through techMARK and techMARK mediscience and is delighted to be a national sponsor of Deloitte & Touche’s Fast 50 programme.”

ENDS

Press information:

Claire Clarke               Deloitte & Touche               Direct Tel: 0121 695 5198

                                                                           Mobile: 07879 431340

                                                                           Email: cclarke@deloitte.co.uk

Claire Campbell               Deloitte & Touche               Direct Tel: 01223 259357

                                                                           Email: clcampbell@deloitte.co.uk

Editors notes:

1.         The Deloitte & Touche Technology Fast 50 Programme is part of a national campaign designed to recognise, reward and raise the profile of the UK’s fastest growing companies. The company criteria for Fast 50 eligibility is based on financial performance and revenue growth and companies will be ranked on percentage growth in turnover over three years from 1999-2001.  The programme is open to UK technology companies defined as:

·        In business for a minimum of three years and;

·        Is UK-owned and headquartered in the Midlands (subsidiaries do not qualify) and;

·        Either develops proprietary technology that contributes to a significant proportion of operating revenues;

·        Or manufactures a technology-related product;

·        Or is technology intensive or uses unique technology in problem solving;

·        Or devotes a high percentage of effort to research and development.

2.         The programme started in San Jose, the centre of Silicon Valley, California in 1995 and has expanded to over 20 major cities world-wide.

3.         The Fast 50 programme tracks the growth rates of technology companies in seven regions in the UK and Ireland, culminating in a national ranking in April 2001 and this year it is co-sponsored nationally by techMARK, the London Stock Exchange index for technology companies.  Intellect, the association for the UK’s IT, telecommunications and electronics industries, is also supporting the national programme.

4.                The Eastern Fast 50 Programme is open to companies operating in the following areas:

               Cambridge                Southend on Sea

               Chelmsford         St Albans

               Colchester          Hemel Hempstead

               Ipswich                Luton

               Milton Keynes Watford

               Peterborough                Stevenage

               Romford               Northampton

5.            About Deloitte & Touche:

Deloitte & Touche is the UK’s fastest growing major professional services firm in 23 locations, with over 10,000 staff nationwide and fee income of £713.6 million in 2001/2002.  It is the UK practice of Deloitte Touche Tohmatsu, a global leader in professional services with over 100,000 people in 140 countries and fee income of $12.4 billion for the year ended 31 May 2001.

Authorised by the Financial Services Authority in respect of regulated activities.

The information contained in this article is correct at the time of going to press.

For further information on Deloitte & Touche, you can access our website on www.deloitte.co.uk

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