09 November 2016
- Top 100 co-operative and mutual enterprises (CMEs) combined turnover $30.5 billion (FY2014/15), with combined assets of $143.7 billion
- Top 100 member-owned companies turn over increasing by 4% per annum – and 18% over a five-year period
- Three Australian CMEs ranked in IBISWorld Top 10
The 2016 National Mutual Economy Report launched today at the BCCM Summit in Canberra shows a combined turnover for the Top 100 Australian member owned businesses of $30.5 billion(FY2014/15), with combined assets of $143.7 billion.
The Australian CME Top 100 co-operative and mutual enterprises (CMEs) annual gross turnover grew by 4% per annum in 2014/15 FY said Business Council of Co-operatives and Mutuals (BCCM) CEO Melina Morrison.
“The report, which is supported by Bank Australia, shows that Australia’s member owned businesses is growing strongly, with the Top 100 CMEs’ recording an18% growth in turnover over a five-year-period.”
Ms Morrison said member owned businesses have demonstrated their economic importance to the Australian economy with 14 CMEs ranked in the IBISWorld list of privately-owned companies by revenue.
In 2016 three CMES have been ranked in the IBISWorld Top 10: Co-operative Bulk Handling Ltd (2nd); Devondale Murray Goulburn (7th) and Hospitals Contributions Fund (9th).
“Although being only 7.6% of the IBISWorld Top 500, Australian CMEs are punching well above their weight and are ranking at the top of the pack,” she said.
The report shows that the combined annual turnover of the Top 100 CMEs is not the only financial measure trending up:
- Combined assets of the Top 100 is also up by 8% (to $143.7 billion);
- Combined median profitability of the same firms is up (15%).
- Median assets also showed a 9% growth; while
- Combined liabilities fell by 2%.