Despite challenging conditions, agriculturally-focused industries and dairy processors made their mark in the Australian market, as this year's Top 100 Food & Drink Companies report, developed in collaboration with IBISWorld reveals.
Poultry processors performed strongly, with an average growth of 6.24 per cent. Golden Cockerel (#91) and Hazeldene’s Chicken Farm (#72) were two notable performers, growing at 10.18 per cent and 6.86 per cent respectively.
Other agricultural-focused industries also performed well. For example, increasing demand for Australian dairy products in overseas markets, particularly Asia, boosted revenue for both the butter and dairy product manufacturing and the milk and cream processing industries.
a2 Milk Company moved five places to #26 with a 160.7 per cent revenue growth in the US, 73.6 per cent in China and a 46.9 per cent increase in sales overall.
Norco Co-op jumped six spots to #36 despite increasingly difficult conditions for its members due to the drought. Its revenue grew from $591 million to $649 million.
Dairy food ingredients supplier and custom powder blender Maxum Foods didn’t quite make the cut (#106) but recorded the fifth highest revenue growth for the year (50.61 per cent). Its addition of livestock nutrition lines has contributed largely to the company’s revenue growth.
MPD Dairy Products had a stratospheric rise from #91 to #79. It provides marketing and distribution milk powder and other specialised dairy products to the domestic manufacturing market. It represents 33 dairies from Australia, New Zealand, the US and Europe.
Many operators in the meat processing sector also posted strong results over the year. While varied trading conditions across regions led to some sluggish results, the sector was bullish overall. Strong export demand combined with an increase in turnoff rates due to widespread drought benefited meat processors.
Thomas Foods (#21) and Midfield Meat International (#37) were strong performers, posting annual revenue growth of 22.0 per cent and 24.6 per cent respectively.
Northern Co-operative Meat Company jumped nine spots to #84. Its revenue comes from meat processing and the distribution of meat products in Australia.
Per capita alcohol consumption is declining but demand for premium products such as spirits are rising. This boosted revenue for Brown-Forman Australia (#89), which saw significant sales growth in its Gentleman Jack and Woodford Reserve ranges and Beam Global (#81), owner of Jim Beam and Suntory Whisky.
MORE COVERAGE:
TOP 100: The Top Ten companies and how they fared>>
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TOP 100: Arrivals and departures>>
TOP 100: The biggest losers of 2019>>
Editorial by Food & Drink Business. All data sourced from IBISWorld.
