Portfolio Recovery Associates, Inc. (NASDAQ: PRAA), a specialized financial services company and market leader in the consumer debt purchase and collection industry, has been named one of Fortune’s 100 Fastest-Growing Companies for 2012.
In its 2012 listing for Portfolio Recovery Associates, Fortune cited the company’s three-year average revenue growth of 23%, profit growth of 31%, and total return of 33%.
Companies that meet Fortune’s criteria to qualify for the list “are ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 29, 2012,” according to Fortune.
Steve Fredrickson, chairman, president and chief executive officer of PRA, said, “The company experienced strong financial results in the first half of 2012, following record growth in 2011. As we continue to buy a growing amount of unsecured consumer debt while successfully working with more customers to help them develop affordable payment plans, Portfolio Recovery Associates is poised to sustain growth in the years ahead.”
Portfolio Recovery Associates, Inc. (PRA) is a specialized financial and business services company. A market leader in the consumer debt purchase and collection industry, PRA has a longstanding culture of compliance, engaging collaboratively with its customers to create realistic, affordable repayment plans. PRA also provides a broad range of fee-based services, including revenue enhancement for local governments; vehicle location, skip-tracing and collateral recovery for auto lenders, governments, and law enforcement; contingent consumer debt recovery on behalf of U.K. banks, credit providers, and debt purchasers; and class action claims filing on behalf of institutional investors, manufacturers, and retailers. The Company has more than 3,000 employees in 10 U.S. states and the United Kingdom.
PRA has been named to the Forbes 100 Best Small Companies in America annual rankings list for five consecutive years (2007 – 2011), and was named one of Fortune’s 100 Fastest Growing Companies in 2012.