Hipages Group Holdings Ltd (ASX: HPG) shares are on the rise today after the company released its first financial results since listing on the ASX late last year. At the time of writing, the Hipages share price has climbed 3.11% to $2.32.
What’s driving the Hipages share price?
The Hipages share price is on the move today after the company recorded a strong performance across all key metrics for its maiden report covering the period ending 31 December 2020 (1H FY21).
Hipages delivered monthly recurring revenue in December of $4.6 million, up 31% and overall recurring revenue of $25.3 million, up 26%.
It advised there had been no adverse impacts from COVID-19, with gross margins improving to 87% compared with 77% in 1H…