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Australia – Bluestone Reports Healthy Cash Flow

30 January 2013

Australia-based staffing company Bluestone Global announced on Wednesday that cash receipts in the three months to December 2012 rose to AU$92.6 million (approximately USD 97 million) from AU$90.0 million (approximately USD 94 million) a year ago, an increase of +3% .

Cash receipts represent total cash receipts from the sale and delivery of services and may be slightly different from the revenue of a company according to their accounting practices.

In a message to shareholders today, the firm said that cash receipts in the six months to December 2012 increased by +22% to AU$189.0 million (approximately USD 197 million), compared to AU$154.5 million (approximately USD 161 million) a year earlier. This was helped by the acquisition of Total Recruitment Group which the firm bought in September 2011.

Bluestone recently rebranded from Humanis Group. According to Staffing Industry Analysts’ research, Humanis was among the top 20 largest staffing firms in Australia in 2011.

The Australian market has a well-developed professional staffing sector. It is similar to many other English-speaking staffing markets regarding the legal landscape. Given the importance of the mining industry in Australia, the provision of temporary labour to mining firms is one sector that is more prominent in Australia than in other staffing markets.

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