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Which Canadian companies are the fastest-growing despite tough economic times?
Jun 1, 2009
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CANADA'S FASTEST-GROWING COMPANIES UNVEILED: THE 21st ANNUAL PROFIT 100 RANKING According to the 21st annual PROFIT 100 Ranking, firms' average annual revenue growth was an astonishing 2,262%. How did they do it? For cross-Canada and regional (Atlantic, Quebec, Ontario, Man-Sask, Alberta, B.C.) highlights, see belowTORONTO, June 1 /CNW/ - Even when times are good, growing a strong company is fraught with many challenges, from attracting good employees to outrunning cash-flow crunches. Add a deep recession into the mix, and for most, the task would be near impossible. What's remarkable this year is that despite the economy, the PROFIT 100: Canada's Fastest-Growing Companies have increased their annual revenue by an average of 2,262% over the past five years. Plus, no company on the list grew by less than 899%, and an impressive 76 ended 2008 in the black. What's their secret? Clearly, it takes something exceptional to rank among the entrepreneurial elite of the PROFIT 100-especially in 2009. One quality that is in abundance and has obviously served these entrepreneurs well is unabashed optimism. "We asked these leaders to look into the future and most said that the general business environment will continue to struggle, but their own companies will flourish," says PROFIT editor-in-chief Ian Portsmouth. "They are blazing the path to prosperity, not only with their products and processes, but also with their optimism, which is wonderful to see in this economic climate." While the average PROFIT 100 entrepreneur scored Canada's economic performance over the next year at 4.9 out of 10, they gave their own companies a score of 8.0 out of 10. Who's at the top? Topping the ranking this year is Allegro Mobile Solutions, based in Mississauga, Ont. With a five-year growth of 8,741%, Allegro software powers handheld devices used by everyone from cops to copier technicians. The special PROFIT 100 issue, on newsstands June 4, profiles Allegro and other dynamic businesses, and reveals the tactics and strategies they've employed to such dramatic effect.PROFIT 100 top 5 performers: ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 1. Allegro Mobile Solutions Mississauga, Ont. 8,741 (Allegro Wireless Canada Inc.) ------------------------------------------------------------------------- 2. Carmen Creek Gourmet Meats Calgary 8,418 (Wild Rose Meats Inc.) ------------------------------------------------------------------------- 3. Infinium Group Inc. Toronto 7,911 ------------------------------------------------------------------------- 4. Masterpiece Inc. Calgary 7,710 ------------------------------------------------------------------------- 5. PNI Digital Media Vancouver 6,571 (PhotoChannel Networks Inc.) ------------------------------------------------------------------------- For the full ranking and breakdown of the PROFIT 100, visit www.profit100.com. REGIONAL HIGHLIGHTS TOP FIVE COMPANIES IN B.C. (12 IN PROFIT 100) ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 5. PNI Digital Media Vancouver 6,571 (PhotoChannel Networks Inc.) ------------------------------------------------------------------------- 25. Elastic Path Software Inc. Vancouver 2,783 ------------------------------------------------------------------------- 37. Belevedere Place Development Kelowna, B.C. 2,076 Ltd. ------------------------------------------------------------------------- 42. Tenzing Managed IT Services Kelowna, B.C. 1,785 (Rellant Web Hosting Inc.) ------------------------------------------------------------------------- 44. Sequel Naturals Ltd. Port Coquitlam, B.C. 1,691 ------------------------------------------------------------------------- TOP FIVE COMPANIES IN ALBERTA (13 IN PROFIT 100) ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 2. Carmen Creek Gourmet Meats Calgary 8,418 (Wild Rose Meats Inc.) ------------------------------------------------------------------------- 4. Masterpiece Inc. Calgary 7,710 ------------------------------------------------------------------------- 11. Classic Communities Medicine Hat, Alta. 4,699 (Classic Construction Ltd.) ------------------------------------------------------------------------- 19. FilterBoxx Water & Calgary 3,150 Environmental Corp. ------------------------------------------------------------------------- 21. Afexa Life Sciences Edmonton 3,100 ------------------------------------------------------------------------- TOP FIVE COMPANIES IN MAN.-SASK. (2 IN PROFIT 100, 3 IN NEXT 100) ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 49. Oreck Canada (Axe Houghton Winnipeg 1,577 Group Inc.) ------------------------------------------------------------------------- 70. KTec Earthmovers Inc. Rosenort, Man. 1,197 ------------------------------------------------------------------------- 133. Wellington West Holdings Inc. Winnipeg 585 ------------------------------------------------------------------------- 160. Broadview Networks Inc. Winnipeg 466 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 168. 24-7 INtouch Inc. Regina 426 ------------------------------------------------------------------------- TOP FIVE COMPANIES IN ONTARIO (49 IN PROFIT 100) ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 1. Allegro Mobile Solutions Mississauga, Ont. 8,741 (Allegro Wireless Canada Inc.) ------------------------------------------------------------------------- 3. Infinium Group Inc. Toronto 7,911 ------------------------------------------------------------------------- 6. Kaboose Inc. Toronto 6,508 ------------------------------------------------------------------------- 7. Ople Marketing Group Inc. Oakville, Ont. 6,112 ------------------------------------------------------------------------- 8. PEOPLEsource Staffing Solutions Toronto 5,605 Inc. ------------------------------------------------------------------------- TOP FIVE COMPANIES IN QUEBEC (20 IN PROFIT 100) ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 10. Frima Studio Inc. Quebec City 4,870 ------------------------------------------------------------------------- 15. Authentik Canada Adventures Inc. Montreal 3,557 ------------------------------------------------------------------------- 22. FinTaxi LP Anjou, Que. 2,915 ------------------------------------------------------------------------- 54. Revision Eyewear Inc. Montreal 1,464 ------------------------------------------------------------------------- 55. Labopharm Inc. Laval, Que. 1,458 ------------------------------------------------------------------------- TOP FOUR COMPANIES IN ATLANTIC CANADA ------------------------------------------------------------------------- Rank Company/Industry Location Revenue growth Overall 2003-08 (%) ------------------------------------------------------------------------- 34. Professional Quality Assurance Fredricton, N.B. 2,192 Ltd. ------------------------------------------------------------------------- 66. Mad Rock Marine Solutions Inc. St. John's, Nfld. 1,250 ------------------------------------------------------------------------- 68. Ad-Dispatch Ltd. Dartmouth, N.S. 1,199 ------------------------------------------------------------------------- 91. Armament Technology Inc. Halifax 956 -------------------------------------------------------------------------About PROFIT 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 more than 25 years, Canadian entrepreneurs 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 increase their revenues, boost their profitability and get the recognition they deserve for generating positive economic and social change. Published six times a year by Rogers Publishing Ltd., PROFIT is distributed almost exclusively to the chief executives of companies with 5 to 250 employees and annual revenue of $1 million to $25 million, reaching more than 300,000 readers across Canada. Visit PROFIT online at http://www.profitmagazine.ca.