Symphony Solutions on FT 1000 List for 2020
The Financial Times of London is one of the leading business publications in the world, often finding itself alongside The Wall Street Journal and The Economist in international dialogues and rankings. Michael Bloomberg, billionaire founder and leader of Bloomberg LP, a financial information and media company, said that The Financial Times is “the only publication I would consider buying.”
The FT 1000 for 2020, the 4th such list, was announced on 2 March, 2020. This list showcases the top 1000 European companies in all types of industries with the highest CAGR (combined annual growth rate) in revenue between 2015 and 2018. Symphony Solutions, Dutch Agile and Cloud transformation company providing custom software development for its 35 international companies, submitted a profile for inclusion on this list for the first time and qualified, ranking #703 on the list.
The Financial Times remarks that the minimum growth to make the list was 38.4%, up from 37.7% the previous year. Symphony Solutions registered a CAGR of 50.1%, well above that number. Interestingly, the top 225 company listings register triple-digit growth rates, typical of newer companies whose growth is larger in earlier years.
The Financial Times Discusses Current Economy
It may seem a bit out of place to be discussing growth rates and accolades when top on everyone’s mind is the current economy and the effect on companies and their employees as a result of recent worldwide economic slowdown. Three scant weeks after The FT 1000 was published came the UK lockdown on March 23, 2020. The Financial Times reports:
“This week the IMF and Office for Budget Responsibility, the UK’s fiscal watchdog, forecast that the UK faces the deepest recession since the 1920’s.”
“Symphony Solutions is working hard to keep the company strong, our clients well served, and our people employed, despite the hard decisions facing all company leaders during times of excess pressure and tremendous uncertainty.”