IBISWorld has released its list of Australia’s top 1,000 companies from the last 12-months and Power Retail’s top online retailer for the year, Woolworths has made the top ten.
The research company has reportedly analysed the country’s largest firms, growing and declining sectors and new businesses to watch in the coming years, with Wesfarmers and Woolworths both cracking the top ten.
Coming in at number two, Wesfarmers, which includes big retail brands Bunnings, Kmart, Target and Officeworks was among one of the biggest contributors to the $2.2 trillion of revenue generated from the 1,000 businesses.
However, James Thomson, the senior industry analyst at IBISWorld does note that Wesfarmers’ strong position will likely change over the next year.
“Wesfarmers is expected to fall down the list in 2018-19 following the demerger of its supermarket branch, Coles,” he said in a statement.
Woolworths ranked highly as well, coming in at number four in the country.
This year also saw a number of new businesses join the list, with IBISWorld noting that a number of clothing retailing and online shopping brands made their debut. “Kogan.com generated significant revenue due to an expanded service offering and growth in Kogan Mobile,” Thomson said. These efforts secured the company a position at 910 on this year’s list.
Kogan’s ranking as part of the top 1,000 Australian companies is off the back of its “record-breaking” quarterly revenue results.
According to Kogan’s latest trading update, the online business reaped the benefits of ongoing investments in logistics, operations and marketing as it recorded double-digit top-line and gross profit growth over the last six months.
For the half year ending December 31, 2018, Kogan.com says it achieved a gross transaction value of $277.3 million, up 12.9 percent YOY. Revenue reportedly came in at $231.8 million, representing a 10.6 percent increase on 1HY18, while gross profit was also up 10.8 percent on the previous year to $45.1 million.
Woolworths also reported a strong first half to fiscal 2019, boasting “good progress” in digital and data, with online growth increasing by 30 percent YOY.