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CANADA'S FASTEST-GROWING COMPANIES REVEALED

June 1, 2011

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The stars of PROFIT Magazine’s 23rd annual PROFIT 200 ranking prove that opportunities are everywhere in today’s economy. For the full ranking, visit www.profit200.ca.

TORONTO, June 1, 2011 /CNW/ – With the Canadian economy apparently mired in a prolonged period of subpar growth, one couldn’t blame business owners for being pessimistic about current opportunities for expansion. But the firms honoured in the PROFIT 200 ranking of Canada’s Fastest-Growing Companies are proof that more than a little optimism is in order.

Despite a sluggish economy, the businesses profiled in the pages of PROFIT’s Summer 2011 issue have generated five-year revenue growth averaging an extraordinary 1,464%. And the fastest-expanding company of all, Mood Media Corp., grew its sales from 2005 to 2010 by a stunning 72,384%.

Released today, the PROFIT 200 is the definitive annual ranking of Canada’s Fastest-Growing Companies by five-year revenue growth.

How did the PROFIT 200 achieve such stellar results in such a mediocre economic climate? They realized that it’s not enough to have a brilliant business idea; you also need to be resourceful in finding the financing you need and think carefully about how to attract and retain key talent. Another key for many PROFIT 200 companies was venturing abroad in search of sales.

“The PROFIT 200 are fearless, focused and determined,” says PROFIT Magazine editor-in-chief Ian Portsmouth. “Despite uncertainty and adversity, they invest in innovation and follow through on their vision—and never give up.”

For more on these trailblazing entrepreneurs and their tactics for generating exponential growth, pick up the Summer issue of PROFIT Magazine or visit www.profit200.ca.

PROFIT 200: The Top 5

Company Industry Headquarters Growth 2005-10 (%)
1. Mood Media Corp. In-store background music, messaging and signage Toronto 72,384
2. Pacific Mortgage Group Inc. Mortgage broker network Toronto 24,065
3. Avigilon Corp. Makes high-definition surveillance software and hardware Vancouver 16,042
4. Varicent Software Inc. Sales performance-management software Toronto 12,562
5. Marport Deep Sea Technologies Inc. Produces sonar technology St. John’s, Nfld. 5,016

PROFIT 200 Snapshot

55,867: total jobs created by the PROFIT 200, 2005 to 2010
$26.6 billion: total 2010 sales
$8.2 million: median 2010 sales
383: average number of employees

What do Canada’s leading growth stars do?

84 — Business services (average 5-year growth 1,674%)
36 — Software development (1,721%)
27 — Manufacturing (952%)
16 — Wholesale or distribution (569%)
15 — Financial services (2,380%)
10 — Consumer services (830%)
  8 — Construction (1,227%)
  3 — Retail (279%)
  1 — Media (767%)

Anatomy of a CEO: Fast facts about PROFIT 200 entrepreneurs

Average age: 43
Youngest CEO: 29
Oldest CEO: 65
Average hours worked per week: 57
Average compensation: $420,000

For much more on the PROFIT 200, plus the full rankings and methodology, visit www.profit200.ca or pick up the Summer issue of PROFIT Magazine.

About PROFIT Magazine:
PROFIT: Your Guide to Business Success is Canada’s preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 29 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.PROFITguide.com.