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PAYGROUP LIMITED - Corporate Spotlight

PayGroup operates in the Asia Pacific, Middle East & Africa regions. Its clients are... PayGroup operates in the Asia Pacific, Middle East & Africa regions. Its clients are primarily, multinational companies across 41 countries. For the Astute One business, recruitment agencies and casual / temporary workers business, are only in Australia and New Zealand, for now. PayGroup services over 1100+ client entities with more than 5.4 million+ client employee payslips processed per annum.More

Corporate Spotlight

PayGroup operates in the Asia Pacific, Middle East & Africa regions. Its clients are primarily, multinational companies across 41 countries. For the Astute One business, recruitment agencies and casual / temporary workers business, are only in Australia and New Zealand, for now.
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PYG boosts contract value 200 pc in FY21

PYG RECORD CASH RECEIPTS DEC QTR

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PayGroup (ASX:PYG) receives record cash receipts in Dec. quarter

Finance

ASX:PYG  
 
PayGroup (ASX:PYG) - Managing Director, Mark Samlal - The Market Herald

Managing Director, Mark Samlal


  • Business process outsourcer PayGroup (PYG) achieved record sales growth across all business sectors in Q3 FY21
  • The company received record cash receipts of $4.6 million, a 48 per cent increase on the prior corresponding period 
  • Additionally, the company signed a total contract value (TCV) of $2.8 million, an increase of 115 per cent over the $1.3 million signed in Q3 FY20
  • Pleasingly, PayGroup delivered positive operating cash flow of $632,000, with funds coming from customer receipts as well as government grants and tax
  • Overall, the company still burnt more than $4.4 million on staff, administration and corporate costs
  • As of December 31, PayGroup had a cash balance of just over $4.9 million



Business process outsourcer PayGroup (PYG) achieved record sales growth across all business sectors in Q3 FY21. 


The company received record cash receipts of $4.6 million, a 48 per cent increase on the prior corresponding period (pcp). 


For these first three quarters, organic growth contributed to 92 per cent of total sales, while the acquisition of TalentOz and Payroll HQ contributed the remaining eight per cent. 


PayGroup credits its organic sales growth to direct sales and the Global Partner Program (GPP), which the company expects to expand further. 


Additionally, the company signed $2.8 million in total contract value (TCV), an increase of 115 per cent over the $1.3 million signed in Q3 FY20. 


This brings the total TCV to $8.2 million and PayGroup is on track to deliver record sales in FY21. 


During the quarter, 115 new entities were added to Pyagroup's portfolio, with 37 coming from PayGroup's subsidiary, Astute One. PYG chalks this up to improved trading conditions and employment rebounds. 


Financials 

Pleasingly, PayGroup delivered positive operating cash flow of $632,000, with funds coming from customer receipts as well as government grants and tax. 


Overall, the company still burnt through more than $4.4 million on staff, administration and corporate costs. 

As of December 31, PayGroup had a cash balance of just over $4.9 million. 


"The swift integration of our recent acquisitions – Payroll HQ and TalentOz – has provided an additional boost to annual recurring revenue (ARR) and the increase in clients is providing us a solid base to grow our ARR in FY22," Managing Director Mark Samlal said. 


"We expect to see growth continue into FY22 as the economic recovery continues and new clients increase hiring and as existing clients increase their volumes as demand increases," he added. 



Read the full article on The Market Herald here. 


PYG BOOST SALES 200 PC FOR FY21

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  • Business process outsourcer Paygroup (PYG) has posted a 200 per cent increase in its total contract value (TCV) for the 2021 financial year to date
  • The company signed $8.2 million in total contracts between April and December last year, compared to $4.1 million in the prior corresponding period
  • Just over a third of the total contract value was signed in Q3 alone 
  • PYG added a further 115 entities to its client base over the nine-month period, including Volvo, technology company NTT and the International Centre for Education in Islamic Finance
  • The company recently acquired payroll specialist PayrollHQ and fellow human capital management player TalentOz
  • PYG shares are up a solid 12.6 per cent to 67 cents following the announcement

Business process outsourcer Paygroup (PYG) has posted a 200 per cent increase in its total contract value (TCV) for the 2021 financial year to date.

The company informed the market via a FY21 performance update, detailing sales and growth figures between April and December 2020.

The company revealed it had signed $8.2 million in total contracts in those nine months, compared to $4.1 million in the prior corresponding period (PCP).

In total, it represents a 200 per cent increase on Q1-Q3 FY20 and a 149 per cent increase on total FY20 sales.

Of the $8.2 million in TCV signed throughout the period, 34 per cent, or $2.8 million, was signed in Q3 FY21 alone.

PYG added a further 115 entities to its client base over the nine-month period, including Volvo, technology company NTT and the International Centre for Education in Islamic Finance.

The company recently acquired payroll specialist PayrollHQ and fellow human capital management player TalentOz, which PYG says are delivering sales growth to the group.

Paygroup managing director Mark Salmal says the group continues to break it sales records quarter on quarter.

It is most pleasing that the contribution comes from all parts of the PayGroup network and business divisions — including our Global Partner Program and recent strategic acquisitions, both which continue to deliver strong results,” he commented.

PYG shares are up a solid 12.6 per cent following the announcement, trading at 67 cents at 2:23 pm AEDT.



PYG ASTUTEONE RECORDS STRONG RESULTS

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PayGroup’s (ASX:PYG) AstuteOne business records strong results

Finance

ASX:PYG   

Source: PayGroup

  • Payroll services business PayGroup (PYG) has announced strong results for its AstuteOne subsidiary over the November period
  • The company delivered a 43 per cent increase in timesheets recorded during the month compared to June this year when COVID-19 was at its peak
  • Along with the volume increase, PYG noted that treasury revenues were up more than 60 per cent in November as well
  • An additional 37 new client entities were signed to AstuteOne during the first half of FY21, representing a total contract value of $1.1 million
  • PayGroup provided an outlook for the remainder of FY21, stating it expects revenue to continue to grow over the period as more people return to work
  • Shares in PYG are trading up a healthy 12 per cent at 60.5 cents each

PayGroup (PYG) has announced strong results from its AstuteOne subsidiary over the November period.


Astute delivered a 43 per cent increase in timesheets recorded over the month, as compared to June this year when COVID-19 was at its peak.


The jump in work is being credited to the easing of COVID-19 restrictions as many of the company's clients are in the workforce management businesses.


"It’s very pleasing to see the increased business confidence in Australia and New Zealand, reflecting more buoyant employment conditions following the easing of lockdown restrictions," PYG Managing Director Mark Samlal said.


"This is having a positive impact on volumes for our AstuteOne business and the acquisition of new clients," he added.


Along with the volume increase, PayGroup noted that treasury revenues were up more than 60 per cent in November as well.


Additionally, an extra 37 new clients were signed to AstuteOne during the first half of FY21, representing a total contract value of $1.1 million.


This includes substantial growth in the Government Training Organisation (GTO) sector, which is being driven by the federal government's business stimulus package for apprentices.


Looking ahead, PayGroup expects the recent uplift in work to continue into the second half of FY21.


"Our revenues will continue to grow in FY21 as new clients increase their hiring, and as existing clients increase their volumes as demand increases," Mark said.


"Our new GTO clients have hiring volumes that are directly linked to apprentices being hired in greater numbers. These GTOs are seeing a greater need to digitise their pay-to-bill workflows," he added.



Read the full article at The Market Herald here.

PYG DOUBLES REVENUE H1 FY21

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PayGroup (ASX:PYG) doubles revenue in 1H FY21

Finance, Technology

ASX:PYG    

PayGroup (ASX:PYG) - Managing Director, Mark Samlal - The Market Herald

Managing Director, Mark Samlal


  • Payroll provider PayGroup (PYG) has reported a 100 per cent year-on-year revenue increase from H1 FY20 to H1 FY21
  • The company also saw a material earnings improvement, with $1.6 million in earnings compared to a $1 million loss in H1 FY20
  • The group also reported a net profit after tax of $444,000, compared a loss of $1.4 million at the same time last year
  • Strong revenue growth, ongoing cost efficiencies, and government wage subsidy programs such as JobKeeper lead to the financial success
  • Additionally, total contract value increased from $2.8 million to $5.4 million with the help of two payroll provider acquisitions
  • At the end of the period, PayGroup had a healthy $5.3 million in the bank after a $3.5 million capital raise conducted in September

PayGroup (PYG) has reported a 100 per cent increase in revenue from the first half of the 2020 financial year to the first half of the 2021 financial year.


PayGroup's financial year calendar is from April to April — meaning the first-half results cover the six months from April through September 30.


The human capital management and payroll provider's $6.8 million in revenue was largely driven by organic growth, as well as the impact of the Astute One and TalentOz acquisitions.


Astute One was acquired in November last year, and TalentOz was acquired in July this year. Both companies are payroll providers that have enabled PayGroup to expand its human capital management (HCM) module solution.


The acquisitions have already led to new customer opportunities and new contract sales. In fact, total contract value increased significantly from $2.8 million in 1H FY20 to $5.4 million in 1H FY21.


While it wasn't signed within the half-one period, PayGroup secured a significant $120,000 contract with Volvo Group Singapore last month


The three-year contract will see PayGroup offer its software-with-a-service (SwaS) payroll offering to Volvo, along with multiple software-as-a-service (SaaS) HCM modules.


PayGroup also reported an earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.6 million compared to a $1 million loss in H1 FY20.


Net profit after tax came in at $444,000 compared to a loss of $1.4 million in 1H FY20. The company attributes the turnaround to strong revenue growth, ongoing cost efficiencies, and government wage subsidy programs such as JobKeeper.


Operating cash increased from an outflow of $600,000 in H1 FY20 to an inflow of $2.1 million in the six months ending September 30.

"I am very pleased with the financial performance of PayGroup this half as we have reported a profitable period, supported by a strong and growing base of contract revenues," Managing Director Mark Samlal said.


At the end of 1H FY21, PayGroup had a healthy $5.3 million in the bank after a $3.5 million capital raise conducted in September. The payroll provider raised the money to enhance the roll-out of its full-service HCM and payroll offering to a larger customer base.


In terms of segment performance, its SwaS segment processed 44,175 payslips, which is a 13.5 per cent increase on the prior corresponding period (PCP). This segment accounted for around half of PayGroup's 1H FY21 revenue.


Its SaaS segment accounted for 45 per cent of 1H FY21 revenue. By the end of the period, there were 400,000 total SaaS active users compared to 330,000 at the end of 2H FY20. 


Further, its Treasury Services segment saw excellent momentum with 11,204 transactions processed in H1 FY21 compared to just 155 transactions in the PCP. This segment accounted for the remaining 5 per cent of PayGroup's revenue.


Looking ahead, the company is well-positioned to continue expanding its offering which will be complemented by the recently announced $2.5 million acquisition of another payroll specialist, Payroll HQ.


"We expect continued growth in contracted sales and earnings as we see the full contribution from our acquisitions and the benefits from our enlarged customer base and addressable markets," Mark concluded.



Read the full article on The Market Herald here.

PYG AQUIRES PAYROLL HQ

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PayGroup (ASX:PYG) reveals $2.5M Payroll HQ buyout

Finance, Technology

ASX:PYG   
PayGroup (ASX:PYG) - CEO, Mark Samlal - The Market Herald

CEO, Mark Samlal



  • Human capital management company PayGroup (PYG) is trading higher today after announcing a $2.5 million, full-scrip buyout of payroll specialist Payroll HQ
  • PayGroup will pay the $2.5 million by issuing just over 4.1 million shares at 61.5 cents each
  • On top of this, the company may need to pay another $1.3 million in shares at the same price based on Payroll's 2021 financial year revenue
  • Based in Sydney, Payroll HQ offer software-with-a-service (SwaS) payroll outsourcing services to a range of corporate Australian and New Zealand clients
  • PayGroup says the buyout will give it around $2.25 million extra in revenue and provide major cross-selling opportunities




PayGroup (PYG) is trading higher today after announcing a $2.5 million, full-scrip buyout of payroll specialist Payroll HQ. 


PYG will cough up the $2.5 million through the issue of just over 4.1 million shares at 61.5 cents a pop. This price is based on PYG's volume-weight average price for the 90 days to November 2. 


On top of this, however, PayGroup may need to fork out a further earn-out payment of around $1.3 million based on Payroll's 2021 financial year revenue. PayGroup said this would be fully paid by issuing PYG shares at the same price as the initial purchase payment. 

The company said all payment shares will be escrowed for 24 months. 


Why the buy?

Based in Sydney, Payroll HQ offer software-with-a-service (SwaS) payroll outsourcing services to a range of corporate Australian and New Zealand clients. 


According to PYG, all contracts drawn up by Payroll have three-year recurring revenue terms with automated renewals. Importantly, the company has a client retention rate of more than 95 per cent. 


Given PayGroup's focus on workforce management and payroll solutions, Payroll's business aligns nicely with PayGroup's strategic plan to grow its client base and capitalise on the growing human capital management (HCM) and payroll markets across the Asia Pacific region. 


PYG first had a close look at Payroll's services in May 2020, when Payroll struck a service deal with PayGroup subsidiary PayAsia for its payroll administration services. 


Now, this business partnership has transformed, and PYG said Payroll is expected to add around $2.25 million in revenue to PayGroup and provide major cross-selling opportunities. 


On top of tall this, the buyout enhances PayGroup's sales and management capabilities in the Australian market. 



PayGroup Managing Director Mark Samlal said the Payroll buyout will "significantly transform" PayGroup's SwaS presence and sales capabilities in Australia.


"Payroll HQ has an excellent client base and sales pipeline, and is led by a group of experienced and high-performing industry experts," Mark said. 


"In this current environment, when payroll is so critical to the livelihood of workers, and cost efficiency and agility is a crucial element for all businesses in a post-lockdown economy, we see significant opportunity to grow this business and we welcome the Payroll HQ team on-board," he said. 


Payroll CEO Ross Heron shared similar sentiments. 


"We see real benefits of integrating our business with PayGroup and have already identified many of their product lines — such as Treasury Services and HCM SaaS modules — as being highly attractive to our client base," Ross said. 


"The HCM outsourcing market is experiencing rapid growth in Australia as business requirements have fundamentally changed following the COVID-19 challenges of 2020 and its impact on workforces," he said. 


"We believe that working together with PayGroup will put us in the best position to capitalise on post-pandemic business opportunities." 



Read the full article on The Market Herald here.

PYG DELIVERS STRONG QUARTER OF GROWTH

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PayGroup (ASX:PYG) delivers a strong quarter of growth

Technology

ASX:PYG    

PayGroup (ASX:PYG) - Managing Director, Mark Samlal - The Market Herald

Managing Director, Mark Samlal
Source: Spark Plus


  • Human capital management and payroll provider PayGroup (PYG) has delivered another strong quarter of growth despite pandemic headwinds
  • The company enjoyed a 10 per cent growth in operating cash flow surplus, up to $1.1 million from $1 million
  • The company has also delivered $5.4 million in contract wins over the last two quarters, almost eclipsing the $5.5 million delivered through the entire prior year
  • Quarterly cash receipts of $4.2 million were almost double the figure delivered in the same period last year
  • After a $3.5 million capital raise, the company has $5.3 million in the bank to fund the next phase of growth initiatives and capitalise on the economic rebound



PayGroup (PYG) has delivered another strong quarter of growth despite pandemic headwinds.

Strong growth


The September quarter saw a 10 per cent growth in operating cash flow surplus, up to $1.1 million from $1 million.


The company has also delivered $5.4 million in contract wins over the last two quarters, almost eclipsing the $5.5 million delivered through the entire prior year.


Around 70 per cent of PayGroup’s new contract sales were to Asian-based customers as a result of the strong business confidence rebound throughout the region.


The new contract sales are expected to add to the company's recurring revenue base as employees are onboarded to PayGroup’s platform over the coming months.


Customer churn also remained below 5 per cent, which is in line with the company's target.


Quarterly cash receipts of $4.2 million were almost double the figure delivered in the same period last year.


While this is a slight dip from $4.5 million delivered in the June quarter, this was broadly anticipated due to the customary "13th month" payroll processing that occurs throughout Asia, typically in February, and its associated cash flow.


The company also realised significant operational savings over the past months, introduced due to the pandemic downturn.


PayGroup is on track to realise $1.5 in annualised savings across the current financial year, with efficiencies made to hosting technology and corporate costs which have tightened the proverbial belt.


The company is also gathering momentum going forward, with a particular boost being provided by the acquisition of leading SaaS HCM, analytics and payroll provider, TalentOz.


PayGroup has made rapid progress in integrating TalentOz’s portfolio of SaaS modules with its core payroll offering, which has enhanced the company's overall service to customers. 


Subsequent to the end of the quarter, PayGroup executed a 3-year, $120,000 contract with Volvo Group Singapore, which is the first to combine a number of HCM SaaS modules with PayGroup’s payroll offering. 


The comprehensive payroll solutions package will likely find more clients in time, particularly with the group's sales and marketing team's Asian focus during the pandemic rebound.




Outlook

With continued growth and a strong balance sheet, PayGroup seems on track to capitalise on the Asian pandemic rebound.


In particular, the creation of a full “hire-to-retire” HCM module suite to complement PayGroup’s comprehensive payroll solution could open a significant number of new customer opportunities across the Asia-Pacific region.


PayGroup Managing Director Mark Samlal says he expects to see the recent growth trends continue.


"Our recent contract wins, with high quality customers such as Volvo Group Singapore, are testament to our expansion strategy and goal of offering our customers a full service solution," Mark said. 


"Not only does this increase our addressable market but gives us significant scope to increase revenue opportunities from existing clients," he added.


"We are also seeing Asian and Middle Eastern economies rebound strongly and expect continued growth momentum in H2 FY21."

After a $3.5 million capital raise, the company has $5.3 million in the bank to fund the next phase of growth initiatives and capitalise on the economic rebound.


PayGroup is down 2.59 per cent to 56.5 cents at 12:48pm AEDT.



See the full article on The Market Herald here.

ABOUT US

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PayGroup is the holding company for PayAsia, Astute One, TalentOZ and Payroll HQ. PayGroup is 100% focused on the fast growing HCM (Human Capital Management). All of the group companies are solution providers leveraging either multi-country Software with a Service (SwaS) or Cloud (SaaS) based platforms. They are using outsourcing as a way to accelerate the digitization of its clients while delivering best in class services at a price which provides a faster Return on Investment.


PayGroup operates in the Asia Pacific, Middle East & Africa regions. Its clients are primarily, multinational companies across 41 countries. For the Astute One business, recruitment agencies and casual / temporary workers business, are only in Australia and New Zealand, for now. PayGroup services over 1100+ client entities with more than 5.4 million+ client employee payslips processed per annum.


PayAsia

PayAsia is strategically headquartered in Singapore, with 183 employees located across 13 countries. Our clients are typically multinational companies, with a significant number of headquartered regionally in Singapore who have employees in multiple countries. We contract around ninety percent of our clients from Singapore for their regional delivery. Our contracts are for an initial 3-year period, with automated renewals. Our retention rate is over 95%. PayGroup operates as a trusted partner to deploy SaaS, together with providing a critical services element of Payroll and HR outsourcing, being SwaS (Software with a Service – equivalent to “BPO Services”). Included in our SwaS are banking and treasury services, lodgments of statutory, taxation, superannuation, pension, provident funds, and other social benefit submissions. Beyond the SwaS services, PayGroup’s SaaS HCM software “HROnline” supports clients in managing aspects of their employees’ life cycle, plus regional and mobile-enabled workflows for critical processes (such as employee and manager self-service, leave management and expense management). SwaS covers the provision of “Payroll Services” to businesses ranging in size from micro (<10 client employees) to large (>10,000 client employees), for delivery across 2 to 24 countries. “HCM Software Market” services including software solutions for human resources (HR) administration functions, expense management, electronic payslips, leave management, workflow and employee updates. These can be deployed in the “Cloud” to businesses of all sizes anywhere in the world.


Astute One

Astute Payroll Australia’s leading workforce management solution for complex workforces, automating the management of workforces – from placement to payroll and invoicing. The system integrates with a wide range of Recruitment Management Systems and GL Accounting Systems to deliver an end to end solution. Astute Payroll is a modern cloud-based system delivering a powerful, flexible, and easy to use solution that is accessed through any internet connection. The system supports all interactions between you, your permanent and contingent workforce, your suppliers, and your clients. Supporting custom branding (100% white labelled), the system ensures that your service is delivered through the best available technology – enhancing your company’s reputation and value to your clients and workforce.


TalentOz

TalentOz is a cloud based HCM software business with payroll modules for Malaysia and India. It has an innovative payroll and HCM product suite with leading end-user functionality, enabling businesses to unlock the full value of their workforce from all devices. It has a very strong track record of top-line growth since the development of it’s SaaS module-based platform. The outlook for PayGroup further commercialising TalentOz is extremely positive and there is significant market potential for the enlarged HCM SaaS product suite. It represents a differentiated and end-to-end product offering in a rapidly growing payroll and HR outsourcing market. TalentOz has a strong client book, comprising of 40 clients at the time of  acquisition by PayGroup, and operates with limited client concentration, with not one client accounting for less than 5% of its subscription fees.


How does PayGroup generate its Annual Repetitive Revenue (ARR)?

PayGroup generates ARR through both its SwaS and SaaS solutions. Our clients sign 3-year contracts and we are proud of our retention rate of over 90%. Our contracts have an automated renewal structure. The basis of the ARR is that it is derived from the number of employees of each client entity, subject to a minimum fee per client. The use of per employee per month (PEPM) as the basis of calculation is applied to the employee number and in instances where the employee count is below a set number of employees as agreed by PayGroup and the client entity, a minimum fee is levied. For our HCM software applications or modules, revenue is generated from the number of employees of each client entity on a monthly basis (i.e. PEPM).


What is the Group’s geographical and client footprint?




5 m+

PAYSLIPS PROCESSED PER ANNUM


900+

CLIENTS


39

COUNTRIES





What are PayGroup’s key growth strategies?


The Group’s strategies for growth is to target:


  • Accelerated ARR growth by leveraging clients, adding services and countries, and additional HCM modules.
  • New client acquisition by recruitment of sales people in key markets.
  • Increase adoption of its Cloud solutions and improve operational efficiencies as a result of the planned investment.
  • Becoming a leader in the multi-country SwaS market by targeting and partnering with North American and European BPO providers who have a need for PayGroup’s services to address the fast-growing demand of their clients in the Asia Pacific region.
  • Implementation of treasury functions to facilitate faster processing and reduced transaction/foreign exchange fees for our clients.


Specialist multi-country service provider

PayGroup focuses on delivering solutions on a multi-country basis for multinational companies regardless of their employee size. While being able to service clients on a single country basis, is differentiated by its experienced management team and over a decade to act as a trusted partner for clients in managing their employees across multiple, complex jurisdictions. This multi-country service approach has been a core driver in client growth to date and supports PayGroup in adding new clients as well as referral alliances with North American and European HCM providers. These strategic partners are typically strong in servicing clients in their own region and need to partner for the Asia Pacific.




PYG SIGNS CONTRACT WITH VOLVO GROUP

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PayGroup (ASX:PYG) signs $120K contract with Volvo Group Singapore

Technology

ASX:PYG

PayGroup (ASX:PYG) - Managing Director, Mark Samlal - The Market Herald

Managing Director, Mark Samlal
Source: Spark Plus

  • PayGroup (PYG) has signed a $120,000 contract with Volvo Group Singapore
  • Under the three-year contract, PayGroup will supply its Software-with-a-service (SwaS) payroll offering to Volvo Group, along with multiple Software-as-a-Service (SaaS) Human Capital Management (HCM) modules
  • The company acquired TalentOz in July 2020 and integrated its HCM technology with its SwaS payroll offering
  • PayGroup Managing Director Mark Samlal said the contract highlights the company's portfolio growth
  • Shares in the company have been 1.83 per cent higher, trading for 55.5 cents

PayGroup (PYG) has signed a $120,000 contract with Volvo Group Singapore.


Under the three-year contract, PayGroup will supply its Software-with-a-service (SwaS) payroll offering to Volvo, along with multiple Software-as-a-Service (SaaS) Human Capital Management (HCM) modules including; Core HR, E Leave, E Claims and E time.


The company acquired TalentOz in July 2020 and integrated its HCM technology with its SwaS payroll offering. This provided PayGroup with a full service HCM product suite that covers the entire "hire to retire" lifecycle.


The company now has 229 employees in 11 countries, servicing over 995 client entities, which represents more than five million payslips per annum.


PayGroup Managing Director Mark Samlal said the contract highlights the company's portfolio growth.


"PayGroup and TalentOz technologies can now be offered to clients as a seamless solution, with an integrated customer interface," Mark said.


"We expect this to be a very attractive customer proposition and look forward to continuing to capitalise on new market opportunities within Asia and Australia," he said. 


"Our sales of new contracts in H1 FY20 were $5.4 million, 98 per cent of the total new contract wins in FY20. We expect this strong sales momentum to continue into H2 FY20 and we are highly confident of the growth we can deliver," he added.


Shares in the company have been 1.83 per cent higher, trading for 55.5 cents.



Read the full article on The Market Herald Here

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