Mining heavyweight BHP Billiton Limited (ASX: BHP) has retained its title of Australia's biggest revenue earner, according to a report compiled by market research provider IBISWorld and cited by The Australian.
BHP Billiton managed to defy the commodities crisis to maintain its position at the top of the list having generated a massive $72.97 billion in revenue in 2014. That was enough to beat the $61.21 billion generated by Woolworths Limited (ASX: WOW), which managed to overtake Wesfarmers Ltd (ASX: WES) – the owner of Coles – in second place. Wesfarmers came in narrowly behind with its $60.52 billion in sales.
The report showed that of Australia's top 1,000 companies, average revenue growth was 7.5% which compares to the 14.6% growth achieved in 2013. Law firms and engineering consulting performed particularly well, while fast food firms suffered as the market's trend towards healthier foods continued. Domino's Pizza Enterprises Ltd. (ASX: DMP) was an obvious exception to this trend, having nearly doubled its revenue which earned it a 380 place jump on IBISWorld's list.
Here's a list of Australia's top ten companies by revenue for the year 2014, as reported by The Australian:
| 1. BHP Billiton: $72.97 billion | $72.97 billion |
| 2. Woolworths: $61.21 billion | $61.21 billion |
| 3. Wesfarmers: $60.52 billion | $60.52 billion |
| 4. Rio Tinto Limited (ASX: RIO): | $59.14 billion |
| 5. National Australia Bank Ltd. (ASX: NAB): | $45.34 billion |
| 6. Commonwealth Bank of Australia (ASX: CBA): | $44.31 billion |
| 7. Westpac Banking Corp (ASX: WBC): | $38.64 billion |
| 8. Australia and New Zealand Banking Group (ASX: ANZ) | $35.25 billion |
| 9. Telstra Corporation Ltd (ASX: TLS) | $26.45 billion |
| 10. Caltex Australia Limited (ASX: CTX) | $24.73 billion |
