Payroll services business PayGroup (PYG) has announced strong...

• 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

PYG