Business Section,
TALK OF THE BAY - column
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Monday, August 4, 1997 Business Section, TALK OF THE BAY - column . |
| Did Clearwater move north or Canada, south? |
| Nicholas Financial Inc. is one of the
fastest-growing Canadian companies, a new report says. The consumer finance company ranked
eighth in profit growth over the past five years in a listing in Globe and
Mail Report on Business magazine. That wouldn't be unusual if it weren't for the fact that Nicholas is based in Clearwater and does most of its business in Florida. The company made the Toronto magazine's list because it was incorporated in Canada and its stock trades on the Vancouver Stock Exchange. Nicholas which specializes in lending money to car buyers with flawed credit, has been prospering while other companies in the high-risk business have faltered. Since 1993, Nicholas revenues have risen 264 percent, while profits have climed 567 percent. The company has 55 employees in 12 branches, with two more scheduled to open in the next two months. Unfortunately, Nicholas shareholders haven't done as well. The stock recently has been trading for about $1.50 a share, down from $2.95 at the beginning of September. In addition to trading in Vancouver, Nicholas trades on the OTC Bulletin Board in the United States, but hasn't attracted much interest from brokerage firms. That could improve this month when St. Petersburg-based William R. Hough & Co. plans to begin making a market in the stock, buying and selling shares from its own holding. - Helen Huntley Times Staff Writer Re-printed
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