04 June 2014
WA co-ops’, mutuals and non-profits revenue topped $8.2 billion according to the annual listing in Business News Western Australia. Co-operatives and mutuals achieved solid growth of more than 8 per cent last year outperfoming many private and listed companies. Leading that growth was Australia’s largest co-operative. CBH Group posted a net profit of 131.7 million in 2013 after lifting revenue by 8.7 per cent to $3.4 billion.
Other big players in the sector, such as health fund HBF, motoring and insurance group RAC and automotive buying group Capricorn Society all achieved growth.
Capricorn Group Chief Executive Officer, Greg Wall, told Business News, that the formation of the BCCM last year was designed to help lift the sector’s profile: “We’re trying to increase the profile of co-operatives and mutuals as an alternative business structure,” said Mr Wall.
Read the full article at Business News Western Australia, Co-op revenue hits 8.2bn, 28 May
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