Rifco still among the country’s fast-growing companies

Red Deer-based Rifco Inc. remains on Profit magazine’s list of Canada’s Fastest-Growing Companies.

Red Deer-based Rifco Inc. remains on Profit magazine’s list of Canada’s Fastest-Growing Companies.

The company, which provides consumer loans for new and used vehicles through its subsidiary Rifco National Auto Finance Corp., was ranked 261st on Profit’s 2014 list. Last year Rifco held down the number 85 spot.

The rankings were based on business’s revenue growth over a five-year period. In the case of Rifco, revenues jumped 261 per cent between 2008 and 2013, finishing at just over $24 million.

“Rifco National Auto Finance has succeeded because we add value to Canadian automobile dealerships,” said Rifco president and CEO Bill Graham in a release.

“Increasingly, our speed and service at processing auto loan applications is being recognized.”

On Wednesday, Rifco issued its most recent financial results, for its fiscal year ended March 31.

These included record revenues of $30.3 million, a 26 per cent improvement over the preceding year.

The Profit 500 list can be found online at PROFITguide.com, and will be published in the July issue of Canadian Business.