RED DEER, AB, Feb. 5 /CNW/ - RIFCO INC. (TSX.V: RFC) is pleased to
announce that for 2008, the Company has been ranked 13th on Alberta Venture
Magazine's annual Top 50 ranking of Best performing stocks for Alberta-based
TSX Venture listed Companies. The TSX Venture Exchange during the period
ending Dec 19, 2008 was down on the whole 75.6%. RIFCO shares dropped 2.94%
over the same period. Only nine of the reported companies showed positive
returns for the year. This can be found in the February issue of Alberta
This has been a year of unprecedented reduction in share prices for many
good companies. We believe that our strong financial performance over the last
two years has worked to shield RIFCO's shareholders from dramatic share price
declines through these very turbulent times. RIFCO shares currently trade at
75% of book value and a PE ratio of 4x trailing earnings, while delivering a
profit growth rate of 267% in the last twelve months.
As the world works its way through this global credit crunch and
recession we are optimistic that profitable, growing companies like RIFCO will
ultimately be rewarded with increased valuations.
About Alberta Venture Magazine
Alberta Venture is Alberta's best-read business magazine and is committed
to influential reporting, timely editorial coverage and superior design.
Alberta Venture publishes a must-read magazine filled with exceptional
business stories and profiles, detailed industry reports, award-winning
photography and helpful information on current business trends.
RIFCO is one of Canada's fastest growing automotive finance companies.
Non-prime auto loans are indirectly originated through a growing network of
selected new and used vehicle dealers operating in all provinces except
Saskatchewan and Quebec.
The common shares of RIFCO INC. are traded on the TSX Venture Exchange
under the symbol "RFC". There are 19.23 million shares (basic) outstanding and
20.98 million (fully diluted) shares.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release
For further information:
For further information: RIFCO INC.: Lance A. Kadatz, Vice President and
Chief Financial Officer, Telephone: (403) 314-1214 EXT 111, Fax: (403)
314-1132, Email: firstname.lastname@example.org, Website: www.rifco.net