South Australia’s top companies in 2022: 75-51

Our second instalment in the annual countdown of the state’s top 100 companies for InDaily’s South Australian Business Index 2022 reveals several successful food businesses and re-badged Kangaroo Island Plantation Timber reporting strong growth.

Sep 27, 2022, updated Oct 05, 2022

Data collated for the Index by Adelaide financial services firm Taylor Collison shows the company formerly known as Kangaroo Island Plantation Timbers, Kiland Ltd, has experienced more than 5000 per cent revenue growth to $1.65 million in the past year.

Kiland owns about 18,600 ha of prime agricultural land on Kangaroo Island, which it is reverting from forestry to agriculture after fires on the island, and the company has climbed the rankings this year from 82 to 60. The company was in the headlines most recently when former Attorney-General and Liberal MP Vickie Chapman was cleared of having a conflict of interest in her decision to disallow its planned timber port on the island’s Smith Bay.

In the food and beverage sector, Maggie Beer Holdings delivered an extraordinary 170 per cent revenue growth boosted by the acquisition of Hampers and Gifts Australia.

The company’s roots can be traced back to famed foodie Maggie Beer’s Pheasant Farm shop, established with husband Colin in the Barossa in 1979. The couple sold half their stake to ASX listed entity Long Table group (now Maggie Beer Holdings) in 2019.

Now fully owned by the company and led by Chantale Millard, the business has seen strong consumer demand for premium food products coupled with the cross-selling synergies of the new business and Paris Creek Farms. Maggie Beer retains a role in the business as brand ambassador and director. The company amassed $75.2 million revenue to sit at 56 on the list.

Other retail, consumer and food manufacturers to appear in this section of the list include Cleans Seas Seafood at 61 after experiencing a strong 36.5 per cent growth in revenue.

Listed since 2005, the company is a global leader in breeding, producing and the sale of Spencer Gulf Kingfish and the largest producer of aquaculture Yellowtail Kingfish outside of Japan.

A South Australian favourite, Haigh’s Chocolates, returns at 66, and is one of the most significant family-owned companies on the Index.

Construction companies in this tranche include The Hickinbotham Group. The new home builder experienced a solid year despite dropping eight places while the Kennett Group leapt up 23 places to 71 on the list with revenue of $132 million in the major commercial construction sector.

Racing SA made the list at 69, and Matthews Hotels Pty Ltd is at 70. The group is led by Lisa, Scott and Ward Matthews, and now owns and operates nine venues including the Buckingham Arms, Maylands Hotel, and the Feathers Hotel and Feathers Pavilion in Adelaide, Bentley’s Hotel in Clare, Eyre Hotel in Whyalla and the Mount Gambier Hotel, Park Hotel and South Eastern Hotel in Mount Gambier.

Several junior miners on the list include Yorke Peninsula copper-gold and Nevada gold explorer Rex Minerals along with Havilah Resources. Havilah recently won shareholder approval to strike a strategic alliance with OZ Minerals and an option to acquire the Kalkaroo Project in the state’s north.

Iron Road, at 54 on the Index, owns interests in two SA iron ore projects. Centrex (58) has reached the production and shipment stage at its Ardmore Phosphate mine. Increasing global prices have boosted its fertiliser and agriculture minerals operations following Russia’s invasion of the largest global supplier, Ukraine.

Two gas production companies are in the mix. Vintage Energy, with several Australian assets, is ready to being production at its Vali operations from late October. Jade Gas Holdings is an early-stage coal seam gas explorer with prospects from its assets in Mongolia.

Accounting services firm MGA Whittle makes the list at 55. Home loans company Tic:Toc was launched in 2017 supported by its innovative home loan provision through a new tech platform.

To be eligible for the Index, businesses must be a South Australian entity incorporated in SA, have a head office in SA, or be an SA-operated entity, majority owned by South Australians.

Each company is ranked by Taylor Collison by market capitalisation using the following formula:

  • ASX – market cap (share price plus the number of ordinary shares on issue).
  • Private entities – estimate market cap considering company revenue, industry standard profit margins and applying earnings multiple.

75. Micro-X Ltd

Sector: Manufacturing | Revenue: $8.9 million | Last Year’s Ranking: 50

Micro-X produces, designs, develops and manufactures a range of ultra-lightweight, mobile x-ray imaging systems for medical and security applications.

74. Duxton Farms Ltd

Sector: Agriculture | Revenue: $16.6 million | Last Year’s Ranking: 72

Duxton Broadacre Farms attracts investors to its diversified portfolio of Australian farms.

73. Bionomics Ltd

Sector: Healthcare | Revenue: $263,634 | Last Year’s Ranking: 48

Bionomics is a biopharmaceutical company involved in developing treatments for central nervous system disorders such as anxiety, depression and Alzheimer’s disease.

72. Terramin Australia Ltd

Sector: Mining | Revenue: $40,000 | Last Year’s Ranking: 75

Terramin Australia is a base and precious metal development company with advanced zinc and gold projects in South Australia and Algeria.

71. Kennett Group

Sector: Building and construction | Revenue: $132 million | Last Year’s Ranking: 94

Kennett’s is a family-owned company that delivers major commercial construction projects.

70. Matthews Hotels Pty Ltd

Sector: Hospitality | Revenue: $61 million | Last Year’s Ranking: 87

Matthews Hotels is a hospitality company that owns and operates nine hotels including in Adelaide, Mount Gambier, Clare and Whyalla.

69: Racing SA

Sector: other | Revenue: Undisclosed | Last Year’s Ranking: 70

Racing SA is the controlling body for horse racing in South Australia.

68. Arrowcrest Group Pty Ltd

Sector: Manufacturing | Revenue: – | Last Year’s Ranking: 68

Arrowcrest is the parent company of automotive and farming machinery companies ROH Wheels, John Shearer, Unicast, Tristar, NonFerral, Kockums Industries and Brownbuilt.

67: Korvest Ltd

Sector: Manufacturing | Revenue: $99.2 million | Last Year’s Ranking: 79

Korvest is has two divisions, EzyStrut Cable & Pipe Supports and Korvest Galvanisers, with a proven track record of supplying to the mining, oil and gas, communications, transport infrastructure, and energy industries throughout Australia.

66. Haigh’s

Sector: Food and beverage | Revenue: Undisclosed | Last Year’s Ranking: 74

Haigh’s Chocolates is the oldest family-owned chocolate maker in Australia. Run by the fourth generation of the Haigh’s family and employing more than 650 people throughout its factory, administration, online and 22 retail stores located across Adelaide, Melbourne, Sydney and Canberra.

65: Jade Gas Holdings Ltd

Sector: Energy | Revenue: – | Last Year’s Ranking: not available

Jade Gas is a gas exploration company focused on exploring the coal bed methane’s potential in Mongolia.

64. Maughan Thiem Automotive Pty Ltd

Sector: Automotive | Revenue: $239 million| Last Year’s Ranking: 66

Maughan Thiem is a family owned and operated car dealership with more than 100 years of experience in the automotive industry, the company has dealerships across South Australia.

63. The Hickinbotham Group

Sector: Building and construction | Revenue: Undisclosed | Last Year’s Ranking: 55

Hickinbotham is a major residential developer, building new homes in and around Adelaide.

62. Guidera O’Connor

Sector: Engineering | Revenue: Undisclosed | Last Year’s Ranking: 60

Guidera O’Connor provides design and construction services to the Australian water industry.

61. Clean Seas Seafood Ltd

Sector: Food and beverage | Revenue: $66.1 million | Last Year’s Ranking: 65

Clean Seas Seafood is a commercial producer of kingfish and a pioneer in Australia’s aquaculture industry.

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60: Kiland Ltd

Sector: Infrastructure and transportation | Revenue: $1.65 million | Last Year’s Ranking: 82

Formerly known as Kangaroo Island Plantation Timbers, Kiland Ltd owns about 18,600 ha of prime agricultural land on Kangaroo Island, which it is reverting from forestry to agriculture.

59. Wallbridge Gilbert Aztec

Sector: Engineering | Revenue: $88.1 million | Last Year’s Ranking: 73

Wallbridge Gilbert Aztec is an engineering and project management firm offering consulting services, including structural, civil, maritime, mechanical, geotechnical, heavy lifting, temporary works, project management, electrical and pressure vessels.

58: Centrex Ltd. (Australia)

Sector: Mining | Revenue: – | Last Year’s Ranking: Not available

Centrex is a resources exploration and mining company focused on supplying the fertiliser market.

57. Tic:Toc

Sector: Professional services | Revenue: Undisclosed | Last Year’s Ranking: 61

Tic:Tock is a finance technology company that launched in 2017 to provide cheaper home loans using proprietary technology.

56: Maggie Beer Holdings Ltd

Sector: Food and beverage | Revenue: $75.2 million | Last Year’s Ranking: 53

Maggie Beer Holdings is a food, beverage and gifting company using Australian ingredients and supporting local primary producers through its brands Maggie Beer Products, Paris Creek Farms and Hampers & Gifts Australia.

55. MGA Whittles Group of Companies

Sector: Professional services | Revenue: $138.7 million | Last Year’s Ranking: 35

MGA Whittles group offers building management, body corporate and strata management services.

54. Iron Road Ltd

Sector: Mining | Revenue: – | Last Year’s Ranking: Not available

Iron Road is an iron ore exploration and mining company.

53. Havilah Resources Ltd

Sector: Mining | Revenue: – | Last Year’s Ranking: 89

Havilah Resources is a gold, base metals and other minerals mining company.

52: Rex Minerals Ltd

Sector: Mining | Revenue: – | Last Year’s Ranking: 54

Rex Minerals is a mining company with projects on Yorke Peninsula and in Nevada in the United States.

51. Lucas Total Contract Solutions

Sector: Building and construction | Revenue: Undisclosed | Last Year’s Ranking: 49

Privately-owned civil engineering and construction company Lucas TCS was founded more than 50 years ago and has worked with leading mining and resource organisations, specialising in civil and contract mining, quarrying, crushing, civil engineering and waste management.

READ MORE: Companies 100-76 on the 2022 South Australian Business Index

The countdown continues tomorrow with the full list to be revealed on Thursday.


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