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Rinehart reveals company profits

Gina Rinehart’s private company Hancock Prospecting Pty Ltd has belatedly revealed the scale of its income and profits by lodging annual returns for 2010 and 2011 with the Australian Securities and Investments Commission, after previously arguing it should not be required to do so.

Hancock Prospecting recorded a net profit of $1.19 billion for the year to June 2011, on revenue of $2.37 billion, making it one of Western Australia’s largest and most profitable companies, after listed companies Wesfarmers, Woodside and Fortescue Metals Group.

The 2011 result was a big jump on 2010, when the company achieved a net profit of $688 million on revenue of $1.41 billion.

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WA revenue

1st-BGC AustraliaNFP
2nd-Hancock Prospecting$1.73bn
3rd↑Competitive Foods Australia$1.23bn
4th-ABN Group$1.02bn
5th↑Byrnecut$979.0m
103 private companies - large ranked by revenue most recent financial year

Year established in WA

16th-D'Orsogna1949
17th-Mrs Mac's1954
18th-Hancock Prospecting1955
19th-MG Kailis Group1962
20th-Mackenzie Marine and Towage1965
35 WA business dynasties ranked by year established in WA

Number of Employees

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