Co-op leader CBH tips $3.9bn revenue

A week after being named the country’s top cooperative business, CBH Group has revealed an anticipated revenue growth of nearly 40 per cent.

The business has been named the leading cooperative in Australia by the Business Council of Co-operatives and Mutuals (BCCM) for the $2.8 billion revenue it achieved for the year to September 2013.

CBH told Business News it expects to announce revenue of $3.9 billion for the 2014 year when its annual report is published in January.

The growth is in line with strong performance from leading cooperatives in Western Australia.

Health insurer HBF was also highlighted in the BCCM’s top five with its $1.3 billion revenue for the 2012-13 year, while the RAC of WA was ranked ninth with revenue of $560 million.

The Capricorn Society also featured with a ranking of fifth, however that was judged by the turnover of sales processed on behalf of members rather than revenue, which was $82.4 million.

According to research by Business News, those four cooperatives have increased revenue by an average of 14 per cent over the past three years.

The most recent year looks set to be as strong as the 2012-13 financial year, on which the BCCM ranking was judged, with average revenue growth of 16 per cent.