founded in 2000 by rent-to-own industry veteran Gordon Reykdal. The
company reported 2006 sales of $154 million-up 33,700% from
Rentcash Inc (TSXV: RCS),
parent of Canadian rent to own company InstaRent, was named the
fastest growing company in Canada today by PROFIT magazine.
According to PROFIT, Rentcash has grown its payday loan business
by 33,000% in the past 5 years, outpacing the number two
Canadian company by a factor of 4.
"Our 1,800 associates are committed to success and it shows in
results," said Gordon Reykdal, Chairman and CEO. "The past five
years have been remarkable for Rentcash. In a very short period
of time we have grown into the largest network of payday advance
outlets in Canada. We have established a solid footprint and
look forward to many years of strong, sustained levels of
profitability," added Mr. Reykdal.
Edmonton based Rentcash was named Canada's #1 Canadian smallcap
company based on a 1 year return by Canadian Business Magazine
in 2005 (see story).
Rentcash said in September, 2006 that it would spin off its rent
to own division (see
story). The company said last month that Instarent would be
sold to stockholders (see
PROFIT released its annual PROFIT 100 today. The list boasts
revenue growth of 2,095% over the past five years. Even more impressive,
says PROFIT, is that their climb to combined
annual sales of
$11.5 billion hasn't come at the expense of profitability: 78%
PROFIT 100 were in the black in their most recent fiscal year,
income of 10.4% of revenue.
"PROFIT 100 companies are the new heroes of Canadian business,
jobs at home and products used around the world," says Ian
of PROFIT magazine. "They've accomplished this by building great employee
teams, exploiting export markets and rapidly responding to the customer's
Rentcash was founded in 2000 by rent-to-own industry icon Gordon
Reykdal. The company reported 2006 sales of $154 million-up
33,700% from 2001.
Twenty-one companies from this year's PROFIT 100 are based in
Columbia, with 18 out of Alberta, two from Manitoba, 42 out of Ontario,
12 from Quebec and five from Atlantic Canada. Across the
country, PROFIT 100
companies created 27,413 jobs from 2001 to 2006.
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