Provided by NZX
  • XRO24.2

    $0.150.62%

  • Open 24.35 High 24.4 Low 24.2 Bid Price 24.21

    Offer Price 24.4 Value 2093487.76 Volume 85976

Current as of 26/05/17 12:00PM NZST

Xero named world's top innovator

Xero founder and chief executive Rod Drury.
Xero founder and chief executive Rod Drury.

New Zealand cloud accounting firm Xero has topped a list of "most innovative growth companies" prepared by influential American business publication Forbes.

Forbes put the NZX-listed company's "innovation premium" at 91.7 per cent.

"The Innovation Premium is a measure of how much investors have bid up the stock price of a company above the value of its existing business based on expectations of future innovative results," Forbes said.

Forbes ranked Xero's five year average sales growth at 210.2 per cent.

Other companies in the top 10 of Forbes' list include UK-based online clothing retailer ASOS.

Xero's share price was trading flat this morning at $32.50. Despite its tumble from record highs earlier this year, Xero's share price is still up 134 per cent from this time last year.

See the full list at Forbes here:

See Rod Drury interviewed here in the Business Herald's 'Meet the CEOs" video series:

Video


Xero has released its annual report today. Read it here:

- NZ Herald

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production apcf04 at 26 May 2017 12:11:30 Processing Time: 579ms