Today we are going to investigate the 5 Most Valuable Australian Companies, based on insider Monkey’s latest article. Australia was among the very few countries and economies that were able to increase in the year of 2020. Actually, its economy boosted by 3.1% in the fourth quarter, beating the projected 2.5% growth. In February 2020, there were “only” 29,029 coronavirus cases reported, in which very few people lost their life. The virus transmission is extremely low in the country, and due to Australia’s recovery plan and the financial aids, the economy managed to grow again. The Australian economy started to boost as early as January 2021, and trade of goods and services rocketed to $10.1 billion, $3 billion more than in December 2020.
Now let’s start reviewing Insider Monkey’s great compilation. CSL Limited (ASX: CSL) ranks fifth on the list with a market cap of $86.8 billion. The biotech company is headquartered in Melbourne and operates in developing plasma therapy through its CSL Behring segment and manufactures vaccines against the influenza through CSL Seqirus. Last month the company reported to become partners with AstraZeneca (LON: AZN) to produce 30 million doses of the Oxford University vaccine. As of the end of December 2020, the company reported to have a total revenue of $5.7 billion, which means it boosted by 16.9% compared to the same period in 2019. CSL Limited is followed by Commonwealth Bank of Australia ADR (OTC: CMWAY) on the fourth spot with having a $117.6 billion of market cap. It was founded more than 100 years ago, in 1911. The bank provides wide range of services, such as institutional banking, business, retail, pensions, fund management, insurance, investment, and brokerage. As their aim is to assist to the net-zero emissions, the bank provides a so-called “CommBank Green Loan”, and the homeowners can apply for a loan of $20,000 to build renewable technology in their homes. It has to be paid in ten years’ time. CommBank reported a net profit of $4.7 billion, which is 20.8% decrease compared to the same period in 2020. Its shares boosted by 46.9% though. If you are interested in more information about the most valuable Australian companies, please click and jump to see the entire original article.