• H1 FY26 earnings in line with expectations at $16.1m
• Ongoing business $10.5m with over 44% organic growth in Engineering, Trades and Labour division
• Announced acquisition of Infrawork in New Zealand to expand infrastructure construction recruitment across Asia Pacific

PeopleIn Ltd has reported its H1 FY26 results, with earnings in line with expectations at $16.1m. The company's ongoing business generated $10.5m in normalised EBITDA, down 9.2% on the previous corresponding period, predominantly due to short-term delays in the visa processing of PALM workers. However, the company's Engineering, Trades and Labour division delivered over 44% organic growth, driven primarily by its Queensland operations and exposure to building infrastructure investment across the state. PeopleIn Co-Founder and incoming Managing Director, Tom Reardon, stated that the company is strategically transforming its operations to focus on the long-term growth sectors of infrastructure construction, manufacturing, agriculture and food services. To this end, PeopleIn has announced the acquisition of Infrawork Holdings, New Zealand's largest provider of skilled migrant contract labour and migration services, for NZD$24.0m in cash. This acquisition is expected to generate annual EBITDA earnings of NZD$5.0m and expand PeopleIn's pipeline of candidates across the Asia Pacific region, providing a unique cross-border labour mobility model to service critical sectors in Australia and New Zealand. Post-acquisition and the ongoing share buy-back program, PeopleIn's net debt is expected to remain low at 1.5x Normalised EBITDA.

PeopleIn is strategically transforming its operations to focus on the long-term growth sectors of infrastructure construction, manufacturing, agriculture and food services. The acquisition of Infrawork is expected to expand the company's pipeline of candidates across the Asia Pacific region and provide a unique cross-border labour mobility model to service critical sectors in Australia and New Zealand.