- 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
