Press release from TheNewswire.ca
Rifco Ranked by the Globe and Mail’s Report on Business
Friday, July 05, 2013
Rifco Ranked by the Globe and Mailâ€™s Report on Business09:50 EDT Friday, July 05, 2013
Red Deer, Alberta. July 5, 2013: Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") is pleased to report that the Company has been ranked No. 493 on the "Top 1000: Exclusive rankings of Canada's most profitable companies" by The Globe and Mail's Report on Business Magazine published on June 27, 2013. The companies being ranked are the 1,000 largest publicly traded Canadian corporations, measured by assets. Rankings are based on after-tax profits in the most recent fiscal year, excluding extraordinary gains or losses.
Rifco's ranking on this year's list was based on the Company's March 31, 2012 year end results.
Rifco was ranked as 493 rd for largest profit - $2.5M.
Rifco was ranked 16 th for largest return on equity - 61.2%.
Rifco was listed as a "Rookies of the Year" - the Company's first time on the Top 1000 list.
It is of note that on page 24 of The Globe and Mail's Report on Business Magazine, the description of Rifco was erroneous. Rifco was not consulted prior to the magazine's publication.
The July 3 rd edition of the Globe and Mail newspaper included a correction.
"An article in the July issue of Report on Business magazine about Rifco Inc. incorrectly said that it uses starter interrupters in its borrowers' cars. Rifco has never used starter interrupter technology. The item also described Rifco's borrowers as "working poor." The average annual income of a Rifco borrower is $55,000, and less than 5% of the company's loans default."
About The Globe and Mail and Report on Business Magazine
The Globe and Mail, through its newspaper, magazine, online and mobile platforms, is Canada's foremost news media company. Each day, The Globe leads the national discussion by engaging Canadians in its award-winning coverage and analysis of news, politics, business and lifestyle. The Globe and Mail, Canada's national newspaper, founded in 1844, Report on Business, Canada's most influential business magazine, and globeandmail.com, the newspapers online and mobile media hub, reach a combined 5.7 million readers every month.
About Rifco Inc.
Rifco Inc. operates through its wholly owned subsidiary Rifco National Auto Finance Corporation to provide automobile loans through its dealership network across Canada.
Rifco National Auto Finance provides consumers with financing options on new and used vehicles. Rifco specializes in building long-term partnerships with dealers by investing time in personalized services through dedicated account representatives. Rifco's quick credit decisions, common sense lending, and expedited funding processes give its dealers better financing options and more closed deals. Rifco's most successful partnerships result in graduated recognition programs for its loyal dealerships.
Rifco is committed to continuing growth. Key strategies for achieving this growth include the expansion of its automobile dealer base, excellence in credit and collections processes, and exceptional service to its Dealer partners and its customers.
The common shares of Rifco Inc. are traded on the TSX Venture Exchange under the symbol "RFC". There are 20.85 million shares outstanding and 22.21 million (fully diluted) shares.
------------------------------------------------ |CONTACT: Rifco Inc. Lance A. Kadatz Vice| | |President and Chief Financial Officer | | |Telephone: 1-403-314-1288 EXT 7007 Fax: | | |1-403-314-1132 Email: email@example.com | | |Website: www.rifco.net | | ------------------------------------------------
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information herein.
Copyright (c) 2013 TheNewswire - All rights reserved.