After its turnover rose by 9,307% in three years Data Discoveries, an Edinburgh-based software firm, has been named as Britain's fastest growing technology company in a survey by Deloitte & Touche.
But the company, which writes software for companies to access accurate marketing data on customers, refused to celebrate attaining the impressive title.
Founder Marcus Brook insisted the company cannot afford to become complacent, even if it does expect to double turnover every year for the next three years.
"The challenge is really keeping this level of growth," he said yesterday.
"Our focus is software. We are not a dot.com that's very good at spending investors cash and not making profits."
Data Discoveries, which employs 19 staff and started in 1995, expects to report turnover of £1.4m this year and pre-tax profits of £400,000. Clients include Al liance & Leicester, Mercedes Benz and Standard Life.
"The whole point of our software is to get some classic marketing into e-commerce and call centres. It delivers knowledge of what are customers' needs and wants. This is not being done on the web where a lot of marketing is to people who don't want your product."
The survey listed Eurocall, a reseller of telecoms services on other companies' networks, as the second fastest growing company by turnover, with its revenue jumping 9,170%.
Eidos, the Lara Croft computer games maker, saw its revenues leap 4,528%.
Deloitte & Touche partner William Touche said the growth statistics flew in the face of investor criticism lobbed at some technology firms whose stock market valuations have collapsed.
"Although technology shares have slumped from their early year highs, the survey reveals a good level of business optimism and there are many good quality companies considering listing," he said. "Conditions are likely to improve further as a result of the increase taper relief on capital gains tax of business assets announced in this year's budget."
Access to skilled staff, rising interest rates, concern on wage inflation, and sales and marketing strategies remained the key issues affect ing the industry, according to the survey of 2,000 technology companies across the country.
It found the companies were offering high reward schemes and equity options to deal with the problem of staff retention.
Mr Brook said his staff owned 20% of Data Discoveries, with an option to buy out investors Arch Angel Investment Group over time.
Data Discoveries was considering two acquisitions and looking to sell its product into Europe and the US.
However, only a third of the companies surveyed saw mergers or acquisitions as the desired expansion strategy. Most preferred organic growth and considered the US and UK provide the best opportunities.
A quarter of companies expected to be acquired as the environment for raising capital became favourable again for technology companies.
"Longstanding shortage of funding and poor tax incentives are being reversed," Mr Touche said. "The environment for technology entrepreneurs in this country is improving significantly."
