A number of co-operatives and mutuals were included in a list of the Australia’s top private companies. The rankings carried out by IBISWorld together with The Australian features 500 private companies by revenue.
Australia’s largest exporter of grain, Co-operative Bulk Handling (CBH) was the second company on the list, with an annual revenue of AU$4.12bn (£1.96m), up 27% from the previous year. The grain growers’ co-op employs 1,000 people and has assets of more than AU$2bn (£953m). Set up in 1933, it is Australia’s biggest co-operative.
Devondale Murray Goulburn came fifth, with revenues of AU$2.99bn (£1.42m). Australia’s largest dairy foods company, it was formed 60 years ago by a group of dairy farmers who wanted a better deal for their milk, and is 100% controlled by its farmers.
Hospital Contribution Fund (HCF), Australia’s largest not-for-profit fund, came ninth with revenues of AU$2.51bn (£1.2m). With 80 years of experience in the sector, the mutual is the oldest of the big four Australian health funds.
Further down the list were: HBF Health Funds (18), Australian Unity (22), RACQ (38), RAC WA (61) and Norco Co-op (83), NRMA (86), Geraldton Fishermen’s Co-op (143), Northern Co-op Meat (180), Plumber’s Supplies Co-op (394), Uni Co-op Bookshop (439) and NSW Sugar Milling Co-op (474).
The top 500 was compiled by using company reports lodged with the Australian Securities and Investment Commission as well as IBISWorld’s own appraisals of company revenue by looking at historic data and industry analysis. In total the country’s largest private companies generate AU$296bn (£141bn) in revenue and employ 440,000 people.