Online rental service Lovefilm International has been recognised as two of the fastest growing technology companies in the UK.

The Sunday Times' Tech Track 100 survey which ranks Britain's fastest growing private technology companies put Lovefilm International fifth in the overall rankings.

The five year-old company has boosted its sales 367.92 per cent from £1.3 million in 2004 to an annualised £27.6 million in 2006.

Lovefilm ceo Simon Calver told HEW: “It's been an exciting four years with the business. We are beginning to get broader recognition and awareness of our achievements in the markets we are working in.

“It also goes to show that entertainment is not necessarily a shrinking business. There are people out there who are watching more films and consuming more content.”