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

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

Read the full article on The Market Herald here.