The market research company IBISWorld has recently released a report naming BHP Billiton (ASX:BHP) as the top Australian company by revenue. Research provided by IBISWorld lists the top companies by revenue while also analysing revenue across all Australian industries. The average revenue growth across the top 1000 Australian companies fell 7.1 per cent from the previous year to 7.5 per cent overall. Law firms boasted strong revenues due to an increased number of company restructurings and increased commercial activity. Law firms on the top 1000 list grew their revenue by 18 per cent, significantly outperforming the rest of the top 1000 list. A decline in mining investments was counterbalanced by significant infrastructure projects and consolidations within the industry. Telecommunication companies posted mixed results due to strong competition for market share within the industry. The fast food sector struggled as consumer sentiment has shifted to more healthier food options. However, there was one outlier in the food industry: Domino’s Pizza. The pizza chain grew its revenue by 98.5 per cent by opening new stores and appealing to younger consumers with new online platforms.
Woolworths has edged out Wesfarmers to become Australia’s second largest company by revenue. Retail, mining and financial companies dominate most of the top ten list.
The top ten Australian companies by revenue are as follows:
1. BHP Billiton (ASX:BHP) - $72.97bn
2. Woolworths (ASX:WOW) - $61.21bn
3. Wesfarmers (ASX:WES) - $60.52bn
4. Rio Tinto (ASX:RIO) - $59.14bn
5. National Australia Bank (ASX:NAB) - $45.34bn
6. Commonwealth Bank of Australia (ASX:CBA) - $44.31bn
7. Westpac (ASX:WBC) - $36.64bn
8. Australian and New Zealand Banking Group (ASX:AZN) - $35.24bn
9. Telstra (ASX:TLS) - $26.45bn
10. Caltex Australia (ASX:CTX) - $24.73bn