Aggregate revenue from the ASX 50 companies has dropped for the first time since 2009, according to analysis by KPMG.
The analysis, which has been done every six months by KPMG since June 2009, shows a decline in the six months to June in the resources sector where falling commodity prices have dragged down revenue and profits.
Annual revenue fell 2% or $13 billion despite 68% of companies reporting an improvement.
Five companies — BHP, South32, Rio Tinto, Caltex and Origin Energy — reported a combined $30 billion reduction in revenue.
Overall, profit before tax was reduced by 8% or or $8.5 billion to $102 billion.