PROFIT magazine today reveals its exclusive annual ranking of Canada’s Fastest-Growing Companies, the PROFIT 100. The PROFIT 100 ranks Canada’s Fastest-Growing Companies by five-year revenue growth. This year’s ranking reveals that Canada’s Fastest-Growing Companies have grown their annual revenue by an average of 1,609% over the past five years — an impressive figure, considering the obstacles they’ve faced, including the dot-bomb, SARS and the rising loonie.
The top 3 in Canada:
First place goes to Hostopia.com Inc., a Mississauga, Ontario-based provider of private-label Web and e-mail hosting, with revenue growth of 13,000% over the past five years. Appearing in second place is Pethealth Inc., a provider of health insurance for dogs and cats in Oakville, Ontario, with a growth rate of 8,306%. Rounding out the national top three is FundTrade Financial Corp., also of Oakville, Ontario. The mutual funds dealer saw a growth rate of 6,589%.
“Canada’s Fastest-Growing Companies know the simple secret to business success: delivering real value to customers,” says Ian Portsmouth, editor. “That’s so much easier said than done. The PROFIT 100 make it happen by assembling great teams, raising the capital needed to fund innovation and always listening to the market.”
Average 2004 revenue for the companies on the PROFIT 100 was $57.6 million. Twenty-eight of the 100 companies are publicly traded.
The top three companies only begin to reflect the remarkable assortment of products and services made and provided by Canada’s Fastest Growing Companies. Consider: parking meters with colour screens, two-way radios and multilingual capabilities (Digital Payment Technologies Corp., No 9.), weapon-sighting systems for the military (Armament Technology Inc., No. 42), and grass-like synthetic turf for sports stadiums (Sportexe International Inc., No. 95).
The dominant sector is business services: 31 PROFIT 100 companies help other firms with everything from transportation to marketing to IT. Manufacturers place second, with 26 firms producing high-tech and low-tech products. Software developers place third (12 in total).
Coast-to-coast Canadian success:
Ontario is once again tops at producing PROFIT 100 companies. Fully 48 firms call Canada’s most populous province home. After slumping for a few years, B.C. is back with a bang, landing 25 spots on this year’s ranking. Alberta counts for 11 positions, followed by QuÃ©bec with nine, Manitoba, three; New Brunswick, two; and one each from Nova Scotia and PEI.
Tapping global markets:
Creative thinking combined with a world-beater attitude allows the PROFIT 100 to tap export markets with relative ease. Some 72% sell their products or services to customers on every continent except Antarctica. The average PROFIT 100 firm earned 41% of its 2004 revenue abroad, up from 25% in 1999.
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Email Suneel Khanna