GRAIN handler CBH Group has been named the country’s top-earning co-operative, as the group plans for a potential change in structure.
Co-operatives Australia compiled the list of the top 100 performers based on total group revenue including marketing pool revenues.
CBH topped the list with revenues of $3.55 billion.
In second place was Victorian dairy co-operative Murray Goulburn with $2.45 billion.
WA companies HBF and Capricorn Society were in third and fourth place with $1.02 billion and $945 million respectively.
“In Australia the top one hundred businesses that operate as co-operatives, mutuals and credit unions control a combined annual turnover in the order of $14.5 billion on behalf of the members who own those businesses,” Co-operatives Australia said.
CBH Group chief executive Dr Andrew Crane said the top 100 list showed that co-operatives could be just as financially secure and successful as corporations.
“The CBH Group is a grower owned and controlled business and we are unique in the benefits we provide the Australian grain industry,” he said.
CBH, which is currently undertaking a review of its structure, recently experienced a failed push by a group of members to change the composition of the co-operative’s board.
Dr Crane said the CBH Group had undergone significant transformation over the past 12 months in order to become a more efficient and effective organisation.
“Over the coming month I will join chairman Neil Wandel as we conduct our annual chairman-CEO meetings and meet with members across the state to discuss the issues impacting the future of their co-operative.”
Industries represented in the list included agriculture, financial services, insurance and retail.