7-Eleven has been ranked among Australia’s top performing private companies despite serious allegations of employee underpayments and a cover-up by head office.
Australia’s largest private companies generated $296 million in revenue and employed more than 440,000 people, according to the Top 500 Private Companies list, published by The Australian and IBISWorld today.
The list is compiled by analysing companies’ revenue for the past 12 months, up to the end of June.
Visy Industries retained its top spot on the list this year, raking in $5.6 billion in revenue – up 27% from the previous year.
Coming in at number two on the list is Co-operative Bulk Handling, Australia’s largest exporter of grain.
The gran growers’ cooperative recorded annual revenue of $4.12 billion for the year ending June 2015.
This is despite only having 1000 employees in comparison to Visy’s 10,100.
Embattled retailer 7-Eleven, meanwhile, was ranked third on this year’s list with annual revenue of $3.87 billion – up by 3.4% on the year before.
Last month 7-Eleven was hit with claims numerous franchisees were underpaying their employees.
The retailer takes a 57% share of each franchise’s gross profit, but does pay for rent, marketing and accounting services.
Boost Juice founder and Shark Tank investor Janine Allis previously told SmartCompanythe 7-Eleven franchising model was unusual.
The retailer is potentially facing a class action lawsuit from disgruntled employees who say they were taken advantage of.
Other companies to make the top 500 list include Bakers Delight, with estimated annual revenue of $587 million.
Kogan.com came in at number 89, with annual revenue of $500 million.
Here are the top 10 best-performing private companies operating in Australia, according to IBISWorld:
1. Visy Industries $5.6 billion
2. Co-operative Bulk Handling $4.12 billion
3. 7-Eleven Stores $3.87 billion
4. BGC $3.26 billion
5. Devondale Murray Goulburn $2.99 billion
6. Teys Australia $2.91 billion
7. Linfox $2.8 billion
8. Hancock Prospecting $2.65 billion
9. Hospitals Contribution Fund $2.51 billion
10. Meriton Apartments $2.5 billion
Broede Carmody is a former senior SmartCompany reporter. Before this, he was a co-editor of RMIT University’s student magazine Catalyst.
