TimeLog A/S once more announced a Gazelle
For the third consecutive year TimeLog A/S has been announced a Gazelle by Danish financial newspaper Børsen, which is something only a very exclusive crowd can boast of.
Børsen’s annual analysis of Danish SME’s in growth is based on American economist David Birch’s description of corporate development in the US. From the “Elephants” of the 1950’s- large firms dominating the market- to the “Mice” of the 1980’s- small companies of 20 employees or less that, nonetheless, managed to create more than 20 Mill. Jobs- to the “Gazelles” of the 1990’s.
The Gazelles are large enough to possess the necessary technology needed to compete in the market, but at the same time, small enough to adapt to constant change. This group of companies create both growth and jobs. Børsen’s purpose with the annual Gazelle analysis is to follow the developments and achievements of this group of corporations in Denmark.
Only a handful of companies has been announced Gazelles more than once, and over the last 15 years only 3700 Danish companies have achieved this.
This year 2482 companies have been announced Gazelles. The Gazelles have been found among more than 500.000 Danish ApS and A/S companies.
In order to be announced a Gazelle by Børsen, the company must have experienced a positive growth in turnover or gross profits for the last four financial years, and throughout the period doubled its’ turnover or gross profit.
TimeLog was named a Gazelle based on our accounts for 2008 with the following key figures:
- Profits each year
- Increase in turnover from 2005 to 2008 of just under 300%
- No deficits during the time period.
“We are pleased to be selected as a gazelle for the third consecutive year - especially in a time of recession in the world market. To me it confirms that we in 2007 chose the right long-term strategy for the company. A strategy which will enter further into play during autumn, when we launch a new structure- a tripartition of TimeLog Project into a Team, a Business and an Enterprise Edition. Thus, we now have a strong offer for both SME’s and large international consultancies. We are confident this will enable us to increase our market share in coming years. " Says Søren Lund, CEO of TimeLog A / S.
On September 25th Børsen will host the annual Gazelle conference. The event will take place at Det Nye Teater, from 3 to 5PM. Admission is free.
