Data in Business in Vancouver’s latest inventory of the province’s largest Crown corporations shows revenue on the rise for most members of the top 20.
Staffing, however, remained relatively static, and B.C.’s biggest Crown corporation watched its revenue drop 1.5% to $5.66 billion in fiscal 2016 from $5.75 billion in 2015.
BC Hydro’s revenue drop occurred after a period of rapid growth for the company and a year after the province’s power corporation reduced its employee headcount by more than 800.
The Insurance Corporation of BC (ICBC) is expecting similar revenue in 2016 as 2015, but final numbers for this year were unavailable at press time due to a change in ICBC’s reporting period.
The next three largest Crown corporations – the BC Liquor Distribution Branch, the BC Lottery Corp. (BCLC) and Community Living BC – posted revenue gains of 10%, 7% and 4%, respectively.
Revenue increased for 14 of the 20 Crown corporations Business in Vancouver tracks; however, BC Housing, BC Transit, the BC Oil and Gas Commission and Destination BC all saw their revenue drop from 2015 to 2016.
B.C.’s top five Crown corporations also reduced staff over the past two years. ICBC lowered its employee head count by more than 200 from 2014 to 2015.
