HiTech Group Australia Ltd (HIT:ASX), a Sydney-based recruiter specializing in staffing information and communications technology professionals for the Australian government sector, reported operating revenue rose 17.8% to AUD 74.4 million (USD 49.2 million) in its fiscal year ended 30 June. HiTech announced its results on Friday.

Demand for ICT professionals has driven growth, according to the company. Integrating new digital services with legacy systems and cybersecurity concerns are driving the need for skilled professionals.

“The demand for talent, in particular ICT talent, is ongoing as user demand for online services builds,” the company said in a press release looking forward to the next fiscal year. “The results for [fiscal year 2024] will depend on the economic conditions we face and the budgets the government will allocate for ICT contracting.”

Share price

Shares in HiTech Group closed up 2.38% to AUD 2.15 (USD 1.41) in Australia on Friday; shares were 2.27% below their 52-week high, according to FT.com.