Business
The PayGroup (ASX:PYG) share price surged up 13% today. Here’s why.
PayGroup Ltd (ASX: PYG) provided a sales update for the FY21 to the market today, sending the share price higher. The PayGroup share price closed the day up 13.45% at 67.5 cents.
The human capital management (HCM) solutions provider noted some record numbers for the business for FY21. Let’s take a look at them.
What’s driving the PayGroup share price up?
Sales growth
For the 9 months to 31 December 2020, PayGroup experienced significant sales growth. More specifically, the company reported signing a total contract value (TCV) of $8.2 million for FY21 period to date.
This indicates a 200% increase in TCV compared to the prior corresponding period. Similarly, this represents an increase of 149% on FY20 total combined…
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