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PayGroup (ASX:PYG) - Managing Director, Mark Samlal
Managing Director, Mark Samlal
Source: Spark Plus
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  • PayGroup (PYG) signs a new contract with leading agricultural provider Yara Australia
  • The contract is worth over $340,000 over a four-year-period and includes automatic renewal
  • Under the contract, PayGroup will optimise Yara Australia’s payroll services through its end-to-end software capabilities
  • On the market this morning, PayGroup is up 1.48 per cent and is trading at 68.5 cents per share

PayGroup (PYG) signs a new contract with leading agricultural provider Yara Australia.

The contract is worth $340,200 over a four-year-period and includes automatic renewal.

Under the contract, PayGroup will optimise Yara Australia’s payroll services through its end-to-end software capabilities, as Yara continues to grow its Australian operations.

PayGroup is a leading provider of payroll and human capital management (HCM) solutions.

“This is a great win for PayGroup, further demonstrating our position as a trusted provider of key payroll, HCM and payment solutions,” Managing Director Mark Samlal said.

“Yara is the ideal company we are looking to partner with; a large, multinational organisation operating within many countries throughout the Asia-Pacific region. This contract builds upon the solid momentum we have built following last quarter’s record sales,” he added.

Last week, PayGroup released its FY21 earnings guidance, revealing it’s on track to record $20.5 million in annualised recurring revenue (ARR).

That figure is almost a 15 per cent increase compared to last year’s ARR result.

On the market this morning, PayGroup is up 1.48 per cent and is trading at 68.5 cents per share at 11:47 am AEDT.

PYG by the numbers
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