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Revenue up, EBITDA down for PeopleIn in Q1 FY24

Reduced business confidence and declining economic conditions are set to dent FY24 results for listed recruiter PeopleIn, chair Glen Richards has told this morning's AGM. Meanwhile he is "disappointed" in a proxy advisor report on its remuneration framework.

Following FY23's "strong results", with revenue up 73.9% (organic: 25.6%) and surpassing $1 billion for the first time, the company is expecting FY24 to be "a more challenging year", he says.

"We've already experienced this in Q1 with many of our private clients reducing their demand, especially high-margin roles and permanent recruitment, or delaying investment decisions, including in health," CEO Ross Thompson adds...