IT businesses are on the FastTrack

Fifty per cent of distributors included on annual Sunday Times list come from within the IT sector.

The Sunday Times FastTrack 100, the annual survey of the fastest growing companies in the UK, has painted a healthy picture of the IT market with 23 per cent drawn from the computer and electronics sector.

The highest ranking IT company was Software Warehouse at 13, down one place from 12th last year. Another high-flyer was reseller Team 121, at 17, which specialises in SAP installation.

Half of the companies on the top 10 distributors list also came from the IT sector. AGP Distribution was the highest placed at number three and ranked 25th overall. The Hampshire component distributor pushed its turnover from #2.7 million in 1994 to #22 million in 1997, which it predicts will climb to #35 million in 1998. Andy Turner, chief executive of AGP, also plans to expand the operation into the US.

The other distributors were Tai Computer Systems, Sol-Tec, Telecom Design Communications and CAE Office Supplies.

The aggressive retail sector also revealed IT successes, with Software Warehouse and Roldec at second and third place respectively in the top 10 retailers list. The manufacturing top 10 was less IT-oriented, although PC card manufacturer Modular Technology was ranked number nine and 59th overall.

However, some of the success stories had a downside. Modular Technology was forced to reschedule its debts this year and Roldec, ranked 37th, had to be bailed out. Two companies on last year's list have slumped into bankruptcy.

One of the more bizarre statistics was that 12 per cent of the founders of the companies were born under the star sign Capricorn.