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Service providers on the fast track

07 Nov, 2009 10:57 AM
China's insatiable appetite for Australian minerals has added to the momentum of stand-out Canberra services business The Citadel Group.

Growing by more than 100 per cent for the past eight years, The Citadel Group finished third in this year's BRW's Fast 100 list of companies. Citadel's revenue of more than $55million represents a staggering 246 per cent rate of growth from the previous year.

The result is even more remarkable given managing director Miles Jakeman said tight cash, slower terms of payment and suppliers going into insolvency eroded profitability.

''We were lucky in the last 12 months we did not lose market share, we were able to grow every single one of our businesses, organically.''

Acquisitions also played a role and so long as they did not detract too much from its core business, would continue to do so.

For more, pick up a copy of today's Canberra Times

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