The Registrar of Indigenous Corporations, Anthony Beven, today released his ninth annual report on the 500 top earning corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
The top 500 report analyses data from general reports submitted by Aboriginal and Torres Strait Islander corporations as part of their annual reporting requirements under the CATSI Act. This report focuses on data provided as part of 2015–16 reports.
Aboriginal and Torres Strait Islander corporations have continued to grow in 2015–16, increasing their combined income by 1.9 per cent—although the growth is less than the 8.2 per cent reported in the previous year. The 10-year average annual growth rate of total income slowed but is still an outstanding 8.3 per cent. Asset growth at 8.1 per cent and employment growth at an impressive 17 per cent were positive results in this year’s report.
The average income of the top 500 corporations increased from $3.76 million to $3.84 million.
The Northern Territory corporations represent 47.1 per cent of the combined total income for the top 500. They also provide 44.1 per cent of the total 12,981 full-time equivalent jobs provided by the top 500 Aboriginal and Torres Strait Islander corporations.
Leading NT-based retailer, the Arnhem Land Progress Aboriginal Corporation again took out the top position with an income of $95.5 million, up 7.5 per cent from last year.
The health and community services sector continued to be the largest with 202 (40.4 per cent) of the top 500 corporations operating in this sector. One of these corporations is Danila Dilba Biluru Butji Binnilutlum Health Service Aboriginal Corporation.
Danila Dilba provides culturally-appropriate health care services to Aboriginal people living in the Yilli Rreung (greater Darwin) region in Northern Territory. Primarily funded by the Australian Government, Danila Dilba is a highly valued service. In March 2016, a Deloitte review found that each dollar invested in Danila Dilba generates $4.18 of benefit to Australian society.
‘The top 500 report highlights what Aboriginal and Torres Strait Islander owned and controlled corporations can achieve. I am proud to see the sector continue growing,’ Mr Beven said. ‘Ultimately, strongly performing corporations deliver better outcomes for all Aboriginal and Torres Strait Islander people by providing jobs, health and prosperity.’
Download The top 500 Aboriginal and Torres Strait Islander corporations 2015–16 or earlier top 500 reports at oric.gov.au/publications/top-500-reports.
Lisa Hugg (02) 6146 4738
7 November 2017