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LiveHire major shareholder increases stake following contract wins

Shares have rebounded from their November 2018 low of 31 cents to last trade at 56 cents.

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Cash receipts for the quarter were $924,000, an increase of 44% on September quarter

LiveHire Ltd (ASX:LVH) has had major shareholder FIL Investment Management increase their stake to 8.38% from 7.18% in the company.

The fund manager increased its stake by purchasing 3.67 million shares through on-market trades in July, August 2018 and January 2019.

Notably, LiveHire revealed new enterprise agreements in December 2018 with DuluxGroup and Korn Ferry.

READ: LiveHire secures fourth enterprise agreement with Korn Ferry to supply recruitment platform

LiveHire’s platform makes managing the flow of talent into and through businesses seamless, underpinned by a single unified candidate profile and visibility of existing employees.

During the December quarter, annualised recurring revenue (ARR) grew $403,000 (25%) to $2.05 million, as a result of eight new clients.

LiveHire had contract wins across several key industries, some of these clients included:

● An industrial/natural/financial group of businesses via Korn Ferry (RPO Channel);
● A diversified real estate group via Korn Ferry (RPO Channel);
Vodafone Hutchison Australia (Mobile telecommunications, Direct Channel); and
● DuluxGroup (home improvement product manufacturer and marketer, Direct Channel).

Best quarter yet

LiveHire’s CEO Christy Forest said: "The December quarter, which is a shorter and typically tougher quarter, was LiveHire’s best quarter yet with the company extremely well placed for continued growth in 2019.

“Our partnership with Korn Ferry has continued to drive strong growth with several significant new contracts secured from the developing pipeline.

“It is also encouraging to see the higher value clients we secured during the December quarter has generated growth in our annualised recurring revenue per client.

“We continue to activate more growth channels beyond RPO and Direct and we look forward to bringing these online soon.”

Quick facts: LiveHire Ltd

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ASX:LVH
Market: ASX
Market Cap: $39.31 m
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