The Go2 People Ltd. (GO2:ASX), a Perth, Australia-based provider of recruitment and training services, on Monday said cash receipts rose 17% to AUD 22.6 million in the quarter ended 31 December, according to a regulatory filing. The company also reported on its acquisition of MechTech Australia.

In terms of cash receipts, it was another record quarter, according to the company. It reported strong organic growth within the labour hire and apprenticeship businesses throughout Western Australia, South Australia and Queensland.

“During the quarter, the company made significant progress setting foundations for sustainable growth, with all ATO (Australian Tax Office) liabilities having been successfully secured under payment plans over extended periods, and a capital raising via rights issue and subsequent shortfall placement having been launched to bolster the balance sheet,” the company said in its Monday announcement.

Go2 People also reported its Hunter Executive Search Consultants Pty. Ltd. business acquired the business assets of Mechtech Australia, an executive recruitment business based in Queensland. MechTech was founded in 2019 by Nick Connolly, its sole owner before Go2 People. Connolly has joined Hunter Executive as its new regional manager in Queensland.

Go2 People also announced that Josh Sexton is its new state manager leading its Queensland business. Sexton will work alongside Connolly.

Share price and market cap

Go2 People had a share price of AUD 0.009 on Wednesday and a market cap of AUD 3.8 million, according to FT.com.