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People Infrastructure on track to make prospectus forecasts

Shares are 46% higher than their IPO price, last traded at $1.46.

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The strong result has good potential to lift the share price further today

People Infrastructure Ltd (ASX:PPE) has released its December half results showing it is on track to meet forecasts outlined in its IPO prospectus.

The workforce management company listed on the ASX in November 2017 at an issue price of $1.00.

The company outlined in its prospectus that it would achieve pro forma EBITDA of $12.0 million and pro forma NPATA of $7.4 million for FY18.

Strong business conditions support positive second half outlook

People Infrastructure reported pro forma EBITDA of $6.2 million and pro forma NPATA of $4.0 million for the December half.

This positions the company in a strong position to meet its prospectus forecasts which is well known in markets to be a share price catalyst.

The company is focused on delivering on its long-term strategy of being a leading provider of workforce solutions to clients across Australia and New Zealand.

Notably, the company said that strong industry tailwinds are providing further support to the growth trajectory of the business.

More acquisitions in the pipeline?

In January this year, People Infrastructure acquired 50% of Recon Solutions and Recon Technology providing a further platform for expansion in the high-growth IT industry.

During the December half, the company generated strong cash flow and is in a favourable position to pursue future growth.

Quick facts: People Infrastructure Ltd

Price: 2.97 AUD

ASX:PPE
Market: ASX
Market Cap: $269.42 m
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