• Stable earnings of $19.3m and continuing to deliver on key business improvement and client initiatives
• Billed rates have recovered, up 9.1% on last year and 3% on FY23
• Overhead reduced by a further $3.8m, total cost reduction of over $15m since FY23

PeopleIn Ltd has reported stable earnings of $19.3m in H1 FY25, continuing to deliver on key business improvement and client initiatives. Billed rates have recovered, up 9.1% on last year and 3% on FY23, while overhead costs have been reduced by a further $3.8m, bringing the total cost reduction to over $15m since FY23. The company's net revenue ratio improved to 25.9%, and cash collections were at 117% of normalised EBITDA, reducing the net debt ratio to 1.68x. PeopleIn is well-positioned for growth as business confidence returns, presenting a timely opportunity for long-term shareholder value. The company has seen sustained trading momentum, with stronger Q2 results consistent with 2024 levels and positioned for further growth. There has been an increase in higher-value work, with a strategic focus on quality, high-margin hours, and a refined client mix to ensure resources are allocated to growing, sustainable partnerships. Ongoing operational efficiency has driven improved margins and long-term resilience.

PeopleIn Ltd expects to maintain stable earnings, with normalised EBITDA of $19.8m in H1 FY25. The company is forecasting a further reduction in net debt through to June 2025, with significant covenant headroom to fund future growth.

PeopleIn Ltd is continuing to drive its current key group-wide growth initiatives, including cross-selling professional services staffing solutions to its existing client base, expanding its presence in the federal government and defence sectors, diversifying its PALM (Pacific Australia Labour Mobility) program, and supporting the 2032 Olympics infrastructure construction.