Tomahawk, WI 04/25/2014 (Basicsmedia) – BlackBerry Ltd (NASDAQ:BBRY), which seems to be diminishing on a large scale, has barely managed to hold on to the topmost rank in the Canadian technology sector.

Branham300 listing

The Branham300 listing, which is made annually and covers top Canadian information and communication technology firms, has put BlackBerry Ltd (NASDAQ:BBRY) on the top spot for the year 2013. However, in present circumstances, it is anticipated that this won’t remain for very long, for a company that has claimed the top spot for the past five years. The company posted a 40% drop in revenues, with CGI Group Inc., a Montreal-based IT company, claiming second spot and posting a 111% increase in revenue. BCE Inc. (NYSE:BCE), Telus Corp. (TSE:T), and Rogers Communications Inc. (NYSE:RCI), all of which are big cell phone firms, complete the top five on the list.

These rankings were released earlier in the week, and are totally based on the revenue reported by the firms for the 2013 fiscal.

BlackBerry Ltd (NASDAQ:BBRY), which has largely been struggling of late, will probably lose the top spot in the upcoming year’s listing. In its 2014 results, year ending March 1, the revenue for the company stood at $6.8 billion, which is a massive drop from the $11.8 billion in 2013. Their closest rival on the list, CGI Inc., posted revenues surpassing the $10 billion mark and has been growing very fast.

Growth for the Canadian tech sector

Wayne Gudbranson, president of Branham Group Inc., which prepares the list said that, despite the recent struggles of BlackBerry, the tech sector of Canada has been thriving and doing well. He pointed out that the top 250 tech firms of the country posted a 2.4% increase in 2013, after a very flat 2012. Removing BlackBerry Ltd (NASDAQ:BBRY) from the list gives a revenue growth of 13.3% for the remaining companies. He mentioned that this was unbelievable growth and that technology was playing it big.

 He also noted that Canada had often relied on one big technology firm. Before BlackBerry Ltd (NASDAQ:BBRY), Nortel Networks held that top spot for many years before it fell. Canada, at present, has many small and medium forms posting high growth rates.

For now, CGI Group Inc. (NYSE:GIB) looks to be heading to the top.

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