Industry analysts IBISWorld today named Australia’s top 500 private companies for 2017-18.
The 500 companies generated $219.6 trillion in revenue, down 0.3% from the year before.
The dip in overall revenue came from a downturn among companies in sectors including Newspaper and Book Retailing, and Livestock and Other Agricultural Supplies Wholesaling.
Almost 10% of the companies in the 2017-18 Top 500 are new to the list, demonstrating significant changes across the economy.
Iron ore billionaire Gina Rinehart’s Hancock Prospecting moved from 11th to second place, pushing aside 7-Eleven, owned by Russell Withers and his sister Bev Barlow.
The iron ore miner now sits just behind behind paper and packaging giant Visy, owned by the Pratt family.
Forbes magazine lists Rinehat as Australia’s richest person with wealth of $US17 billion.
A booming construction sector helped Meriton, BGC and Hutchies into the top 10 private companies.
The top 10 private companies for 2017-18:
1. Visy – $6.7 billion, up 1%.
2. Hancock Prospecting – $5.02 billion, up 25.3%.
3. 7-Eleven – $4.9 billion, up 8.7%
4. CBH Group – $3.72 billion, steady.
5. Meriton – $2.78 billion, down 7.7%.
6. BGC – $2.68 billion, up 4.8%.
7. Hutchies – $2.65 billion, up 16.3%
8. HCF – $2.62 billion, up 1.8%.
9. Teys Australia – $2.6 billion, up 7.9%.
10. Cotton On Group – $2.59 billion, up 20.4%.
The Walter & Eliza Hall Institute, now ranked to 130, up from 416 last year, posted the largest rise, with 282.2% growth in revenue to $447.3 million.
The rise was mainly due to the institute’s latest cancer treatment, Venetoclax, which generated more than $331 million.
Construction group Lipman grew revenue by 67.4% to $272.0 million as the company expanded across New South Wales.
“Lipman’s growth is particularly notable given that the construction industry declined by 2.0%,” says IBISWorld Senior Industry Analyst Jason Aravanis.
“This industry has been limited by a marked deterioration in non-building construction activity, and lower demand from major mining and engineering construction projects.
Queensland Sugar Limited, a consortium of 23 sugar growers and 7 millers, posted the largest revenue decline with a 62.3% fall to $855.6 million.
The top 500 list is HERE.
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