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Skilled Group revenue falls 13%

August 26, 2010

Skilled Group Ltd., an Australia-based firm that provides staffing services, reported today that revenue fell 12.6% to AUS$1.70 billion in its fiscal year ended June 30, 2010. It also announced plans to sell its Swan Contract Personnel division.

Full-year revenue in Skilled's workforce services segment, which includes primarily blue collar staffing, fell 11.8% to AUS$841.4 million (US$720.6 million).

Skilled's other staffing services segment posted a 10.9% decline in revenue to AUS$350.4 million (US$300.0 million). This segment includes nursing, white collar, engineering and technical staffing.

Profit for the year fell 55.0% to AUS$12.7 million (US$10.9 million).

Skilled announced plans to sell its Swan Contract Personnel division. Swan's annual revenue was AUS$170 million (US$145.6 million).

Skilled Group Ltd.
For the fiscal year ended June 30, 2010, compared with the same period in the previous year.
Revenue: AUS$1.70 billion (US$1.45 billion), -12.6%
Profit for the year: AUS$12.7 million (US$10.9 million), -55.0%