GO2 People, a provider of vertically integrated recruitment and building services throughout Australia and New Zealand, published an update for the fourth quarter.

The company recorded positive cash from operations for the full year 2021, assisted by the reduced cash burn of the GO2 operation. The company recorded positive net cash from operating activities of AUD 188,000 (USD 138,842) in FY21 compared to a AUD 3 million (USD 2.2 million) net cash loss from operations in FY20.

The group saw a jump in receipts from customers from AUD 6.9 million (USD 5.1 million) in the March quarter to AUD 10.8 million (USD 7.9 million) in the final quarter of FY21. This was a result of the inclusion of Hunter Executive into the group for the full quarter, and Skill Hire for the month of June 2021.

The company first announced the acquisition of Perth-based recruitment firm Hunter Executive on January 2021.  On April 2021, the group announced that it would acquire Western Australia-based Employment Services provider, Skill Hire Australia.

GO2People said the integration of the Hunter Executive and Skill Hire businesses is progressing well with the merging of key operational locations in Perth already completed. The company expects the full impact of both recent acquisitions to be evident in FY22.