Debt buyer Portfolio Recovery Associates (PRA) Inc., based in Norfolk, Va., has been named one of Fortune's 100 Fastest-Growing Companies for 2012.
In the listing for the company, Fortune cited the company's three-year average revenue growth of 23%, profit growth of 31% and total return of 33%.
Companies that meet the 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 CEO 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."
PRA reported
PRA is a specialized financial and business services firm that provides services including revenue enhancement for local governments; skip-tracing and collateral recovery for auto lenders, governments and law enforcement; contingent consumer debt recovery for banks, credit providers and debt buyers; 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. It has been named to the Forbes 100 Best Small Companies in America annual rankings list for five consecutive years (2007 - 2011).
