Hibs - I tend to agree. Whilst 100% growth is impressive it is by no means a ceiling or upper limit especially for a company with a global prescence in a booming market and with a current tiny level of sales. My own software company has achieved nearly 140% CAGR over 3 years to make the TechTrack 100 and will do a similar level of growth again this year and we are only aiming at English Local Authorities - hardly the most dynamic market!!
Not only can IND do better than 100% growth, they must do to both meet their own ambitions and to avoid being passed by by the competition. They have a limited time window to do it - probably 3 years.
The Board estimated the market they target would be worth $2bn in a few years and they hoped for 10% of that. If "a few years" is 3 years then that implies growth of 150% a year to get from last years £7m to £109m ($200m) in 3 years time.
The massive expansion in the sales force would seem to imply that either they can see the limited time window or that something has happened that gives them the confidence to invest at this level or both. Having been burnt before in their early years when they expanded too far too fast, I think (and hope) they would only do it again now if the expansion was firmly underwritten by sales opportunities.
Anyway Happy New Year and hopes for a prosperous 2007 for all IND holders and contributors!!
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