Some of Australia's top 100 companies battled adverse conditions in 2018 or restructured, and as a result lost ground in this year's Top 100 Food & Drink Companies report, produced by Food & Drink Business in collaboration with IBISWorld.
Some companies didn’t meet the revenue threshold to make the list this year including last year's #74 Cerebos Foods, last year’s #94, Tully Sugar, last year’s #100, Milne AgriGroup.
Some companies took a hit to their revenue following the sale of business units and other restructuring efforts, according to IBISWorld senior industry analyst Bao Vuong. Wilmar Sugar fell from #11 to #15 on falling revenues due to the sale of one of its subsidiaries, and Bindaree Beef Group fell from #31 to #38, after divesting a joint venture investment.
AACo dropped from #34 to #46 due to the company’s move away from a reliance on external supply, which impacted its sales volume, according to Vuong.
Independent Liquor Group Distribution, which fell from #51 to #62, lost one of its wholesale partners, Star Group in Queensland, which had contributed $77m sales in the previous financial year.
MSF Sugar, which fell from #56 to #71, saw its associate company NIR Sugar Pty Ltd deregistered in September 2017, and for Golden Cockerel, which fell from #77 to #90, Vuong attributed the decrease in revenue to a decrease in the naked fresh market price of chicken. The company also deregistered its subsidiary Capricorn Food Distributors in February 2017.
Other companies to drop down the list on falling revenues were Top Cut which fell from #58 to #73, and Patties which dropped from #76 to #89.
Editorial by Food & Drink Business. All data sourced from IBISWorld.