Zavvi buy catapults The Hut to top of tech growth ranking

chart up

The recession might have hit online sales, but e-retailer The Hut has still managed 188 per cent growth over the past three years.

Topping the Microsoft-sponsored Sunday Times Tech Track 100, the Cheshire-based firm picked up Zavvi's database and brand name when it went under. Other notable companies in the top 10 included app developer Mobica and wireless firm The Cloud.

The top 100 firms in the ranking created sales worth 2.7 billion and employed 18,186 staff - and despite the recession they've averaged staff growth of 113 over the past three years.

Mark Taylor, director of developer and platform evangelism at Microsoft, said in a statement: "It is great to see privately-owned technology companies delivering sustained growth, and making a positive

contribution to the technology industry as a whole despite the economic slowdown."

London topped the league table, bringing in 49 of the top 100 tech growers, followed by the Southeast at 19, the North at 15, the Midlands at seven, the East at six and the Southwest with four.

The top ten firms with their three-year growth percentage were:

1 - The Hut (188.77 per cent)

2 - ApaTech (180.08 per cent)

3 - wewillbuyyourcar.com (177.88 per cent)

4 - Mobica (174.92 per cent)

5 - Phyworks (168.03 per cent)

6 - Moneybookers (152.39 per cent)

7 - Geo Networks (188.77 per cent)

8 - Ubisense (127.89 per cent)

9 - LOVEFILM.com (127.78 per cent)

10 - The Cloud (113.20 per cent)