WINNER Pumpkin Patch
You could hardly call growth strategy that delivered 15 percent lift in turnover and 307 percent profit hike kids’ stuff. But, that is exactly what Pumpkin Patch did and it’s also exactly what it delivers – kids’ fashion stuff. The company’s growth strategy and its public listing have been as smart as the fashion gear they design and bring to the market. Pumpkin Patch has launched global fashion label from its New Zealand base and cleverly and strategically takes advantage of consumer environment that is looking for original kids design – from toddler to teenager. The Pumpkin Patch strategy is based on creating and delivering innovative and original designs, providing great customer service, selling quality apparel products and on building brand loyalty. Hats off to this clever and impressively managed team effort.
FINALISTS
Fletcher Building
Fletcher Building has dovetailed its two growth strategies – growth through acquisition and organic growth – to create seamless overall growth strategy that builds on the outstanding results of 2003. The company’s impressive performance was, it seems, significantly constrained by labour shortages. This knotty problem notwithstanding, Fletcher Building made the most of the opportunities the housing and construction boom on both sides of the Tasman presented. To ensure it bagged the benefits that sometimes evaporate through badly managed growth, the company controlled costs and professionally managed risks. The upshot of the growth strategy: the business remained competitive and grew its profitability along with its revenue – sign of smart management and good planning. The company’s successful growth is also by-product of strong relationship between management and board. There are no mixed signals and the cohesive leadership approach delivered an outstanding result. Again!
Port of Tauranga
Without making too many waves, the Port of Tauranga has steadily and systematically grown its customer base and gained strategic advantage over its other North Island competitors. Now it, and the region it serves, are reaping the rewards of the company’s long-term strategic thinking, decision making and hedging of the risks associated with handling volatile primary commodities, particularly from the forestry sector. The Port has diversified its investments and created new options for other major businesses that will deliver more growth and secure future traffic over the wharves. While revenue grew just 3.5 percent and profits just eight percent this year, the sustained growth strategy has delivered steady and constant results in way that has greatly benefited the region’s economy and given additional momentum to improvements of the infrastructure that serves and benefits the greater Bay of Plenty community.
