Australian recruitment and consulting company HiTech Group Australia (HIT: ASX) reported revenue today for the six months ended 31 December 2020 of AUD 18.8 million (USD 14.6 million), an increase of 19% compared to the same period last year.

HiTech Group is a specialist provider of contracting, consulting, and recruitment services to the private and Australian government sectors.

CEO Elias Hazouri said, “The remarkable performance of the HiTech Group is both pleasing and humbling. To be announcing record revenue and profit results in a period of global pandemic unrest makes us confident that we have the right model and staff to withstand and navigate unforeseen future headwinds.”

“Our standout results are in line with our determination to achieve record growth, yet again, for the HiTech Group whilst ensuring we supported each other throughout the past 12 months and continued to extend our assistance and support to our valued clients and contractors. These results highlight our successful and continuous efforts to capitalise on strong demand for ICT talent and services as the digital and cloud-based service demands increase,” Hazouri said.

HiTech said it has significantly increased profit through a determined focus on profitable engagement and targeting new business opportunities primarily in the ICT contingent workforce and projects sector.

The group said it remains fully prepared to take advantage of the ongoing strong demand for skilled IT talent as the recovery of the Australian economy takes place.

We continue to see strong government demand for ICT talent and services as multi-year transformation projects power on and new ones are created to meet the online/digital demands of the new economy,” the group stated.

HiTech said it has several active mandates and continues to see a robust tender pipeline for new business in both the federal and state government sectors where digital transformation initiatives are in full swing and have been expedited due to Covid-19.

“ICT transformation projects relating to remote access have increased the need for specialised services such as cyber security and cloud security,” the group stated. “The HiTech Group is well positioned to capture this new pipeline of work via our talent pool and services on demand division.”

Shares in HiTech closed yesterday at AUD 1.98 (USD 1.54), up 1.53% on the day. The company has a market cap of AUD 78.0 million (USD 60.81 million).