Super funds head Australia’s top 500 private companies
August 21, 2013 Leave a comment
Super funds head Australia’s top 500 private companies
PUBLISHED: 1 HOUR 43 MINUTES AGO | UPDATE: 1 HOUR 17 MINUTES AGO
BEN WOODHEAD
Superannuation funds have again dominated the pointy end of Australia’s top 500 private companies, with Anthony Pratt-helmed Visy Industries the only non-super fund to squeeze into the top 10. Measured by total revenue, BRW’s annual list of the top 500 companies found AustralianSuper was once again the biggest private business in Australia, with total annual revenue of $24.9 billion in the 2012-2013 financial year. First State Super Fund was a distant second with $11 billion in revenue, while UniSuper moved up one rung on the ladder to come in at number three among the biggest private companies with revenue of $8.5 billion.Positions four to seven were also occupied by superannuation funds, with Visy Industries finally breaking the pattern at number eight, with total revenue of $4.1 billion. But while Visy increased its revenue 5.1 per cent in 2012-2013, according to BRW, it slipped from third place on the top 500 list in 2012.
Outside the top 10, trucking magnate Lindsay Fox’s Linfox came in at number 15 (down from 11 last year) with $2.5 billion in revenue. Billionaire miner Gina Rinehart’s Hancock Prospecting rose to number 16 from number 23 even as its revenue was estimated to have slipped 1.1 per cent to $2.4 billion.
Other non-superannuation funds in the top 20 include 7-Eleven stores (number 12, revenue $3.3 billion), building and construction outfit BGC (number 14, $2.5 billion), Murray Goulbourn Co-op (number 17, $2.4 billion), Co-operative Bulk Handling (number 18, $2.3 billion) and meat processor Teys Australia (number 19, $2.2 billion).
BRW says the top 500 companies increased their revenues in 2012-2013 by 7.7 per cent, compared to 2.5 per cent for the country’s 2.2 million enterprises.
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