The last two years have been challenging for many with adverse conditions affecting some more than others. There are nine companies in the Top 100 that have recorded double digit revenue drops but the reasons for that are varied.
Unilever Australia’s (#26) revenue fell 26 per cent to $1.15 billion, but that figure takes in the whole company not just food and beverage.
Dairy product supplier MPD Dairy dropped 12 places to #78 and 15.8 per cent in revenue to $273 million this year, after rising 15 places in 2020 and recording a 22.45 per cent growth. I suspect COVID-19 disruptions to the infant formula and powdered milk daigou and export market played a part.
Three meat processors had revenue drops – Bindaree Beef (28.7 per cent, #43), NH Foods (18.4 per cent, #30), and KB Food (13.1 per cent, #48).
Kinrise’s revenue fell 10.5 per cent (#63). It recorded the second highest revenue rise in the 2019 Top 100, up 103 per cent and coming in at #64, but that came after a number of acquisitions. In the 2020 Top 100 it was #57. This year the CEO of Kellogg Australia Esme Borgelt left the global company to head up Kinrise.
Other drops were Select Harvests (#78, down 14.4 per cent) and Allied Pinnacle (#33, down 27 per cent), two companies always going to be affected by volatile commodity markets.
Moet Hennessy Australia fell 18 spots from #67 to #85.
Welcome to our Top 100 Food & Drink Companies 2021 report.