Australia-based staffing firm PeopleIn provided an update on its business performance on the back of Australia’s recently published Federal Budget 2022.

The group highlighted that its Professional Services vertical, which includes technology, accounting and finance and advisory brands, is continuing to see strong demand, particularly for cyber security roles and professional management roles.

The Industrial & Specialist Services (ISS) vertical has also seen an increase in demand for building and civil construction trades, chefs, early education and hospitality roles.

PeopleIN’s Chief Executive Officer, Ross Thompson said “PeopleIn is well placed to deliver complete talent solutions to our clients in an extremely tight labour market. Our capabilities in sourcing and recruiting employees enable us to provide an invaluable service to our clients.

“Furthermore, PeopleIn focuses on those parts of the economy that generate ongoing long-term demand for employment services,” Thompson said. “Should there be a change in macroeconomic conditions, we will be well placed to continue to generate strong returns for shareholders. Our business performance is underpinned by our diverse reach into high demand and defensive employment sectors, including healthcare, professional services, early learning, infrastructure and food services.”

PeopleIn also announced that it is reaffirming its FY23 earnings guidance with normalised EBITDA of AUD 62 million – AUD 66 million (USD 39.7 million to 42.3 million) based on the continuation of current economic conditions.

PeopleIn shares closed at AUD 3.29 (USD 2.11), up 4.11% on the day and 32.13% above the 52 week low of AUD 2.49 (USD 1.60) set on 17 June 2022. The company has a market cap of AUD 309.54 million (USD 198.40 million).