Canada's Fastest-Growing Businesses Unveiled

- PROFIT Magazine releases its 25th annual PROFIT 500 ranking of the country's top growth businesses -
- For the first time, PROFIT 500 firms are ranked by sector, in addition to overall rankings -
- For the full list, visit www.PROFIT500.com or pick up the Summer issue of PROFIT Magazine -

TORONTO, June 3, 2013 /CNW/ - The past five years have not been very kind to Canadian businesses. Yet, the performances of the firms on PROFIT Magazine's 25th annual ranking of Canada's Fastest-Growing Companies—renamed this year as the PROFIT 500—have raised the bar on what it means to thrive in a challenging economy. The trailblazing entrepreneurs on the PROFIT 500 are a diverse group of super-achievers who prove that there are many paths to success. Canada's Fastest-Growing Companies operate in a wide array of industries, from IT and retail to manufacturing and education. Not surprisingly, 378 of the PROFIT 500 are headquartered in Canada's six largest urban centres, including Greater Toronto (187 firms), Vancouver (60), Montreal (46), Calgary (42), Edmonton (24) and Ottawa-Gatineau (19). But more than a few PROFIT 500 firms prove that fast growth can take root anywhere; the list includes Luseland, Sask., Heckman's Island, N.S., and Baie-Comeau, Que. For more on these trailblazers and their tactics for generating exponential growth, pick up the Summer issue of PROFIT Magazine or visit www.PROFIT500.com. To find out which are the Fastest-Growing Companies in different Canadian cities, visit www.PROFIT500.com.

The Top 10 companies on the 2013 PROFIT 500
(by five-year revenue growth)

  1. Avigilon Corp., Vancouver (49,908%)
    Sector: Business products

  2. Mood Media Corp., Vaughan, Ont. (41,364%)
    Sector: Marketing services & media

  3. EcoSynthetix Inc., Burlington, Ont. (9,676%)
    Sector: Business products

  4. Terrapro Group Inc., Sherwood Park, Alta. (7,730%)
    Sector: Natural resources

  5. PiiComm Inc., Alfred, Ont. (4,164%)
    Sector: IT

  6. Clevest Solutions Inc., Richmond, B.C. (4,125%)
    Sector: Software development

  7. DevFacto Technologies Inc., Edmonton (3,936%)
    Sector: IT

  8. Mint Technology Corp., Toronto (3,700%)
    Sector: Financial services

  9. Tangentia Inc., Toronto (3,453%)
    Sector: IT

  10. HC Piper Manufacturing Inc., Calgary (3,400%)
    Sector: Natural Resources

Top 5 sectors (by number of companies)

  1. IT: 79
  2. Business products: 59
  3. Marketing services & media: 45
  4. Construction: 42
  5. Business services: 41

Anatomy of a CEO: Fast facts about PROFIT 500 entrepreneurs

  • Average age: 46
  • Age range: 27 to 83
  • Share with an MBA: 15%
  • Female CEOs: 14%
  • Serial entrepreneurs: 61%
  • Family businesses: 25%
  • Average compensation: $386,000

How we ranked them
All applicants were ranked by five-year percentage revenue growth, generally from 2007 through 2012. PROFIT shortlisted companies based on revenue figures supplied on a short self-nominating ballot, then verified revenue claims and eligibility through phone interviews and reviews of applicant-supplied financial statements. A minimum revenue requirement of $2 million in the most recent fiscal year (e.g., 2012) applied to all companies; growth rates were calculated using a base-year (e.g., 2007) minimum of $200,000. Franchisors were ranked on their corporate revenue only, not system-wide sales. For full eligibility criteria and more details on the ranking procedure, visit PROFIT500.com/faq.

About PROFIT Magazine and PROFITguide.com
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 31 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 PROFITguide.com.

SOURCE: PROFIT Magazine

For further information:

Media contact 
Saphyre Haliburton, PROFIT, saphyre.haliburton@rci.rogers.com, 416-764-1719

Organization Profile

PROFIT Magazine

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890