Gattaca delivers 'robust' H1 performance

(Sharecast News) - Staffing business Gattaca said on Thursday that it had delivered a "robust performance" in the six months ended 31 January, in line with expectations. Gattaca said group net fee income had decreased 3% year-on-year at £18.8m, with contract NFI 1% lower and permanent NFI dropping 10% year-on-year. Statement of work NFI was also down 3% year-on-year, as new client acquisitions partially offset delays linked to the public sector spend review.

The AIM-listed group also noted that it expects to report statutory net cash of £16.7m, down from of £22.3m a year earlier primarily due to a reduction in trade creditors.

Looking forward, Gattaca said group guidance for FY25 adjusted pre-tax profits remained at £3.0m and stated that it also expects to announce an interim dividend at its H1 results on 2 April.

Chief executive Matthew Wragg said: "Our strategic investments in growth opportunities are delivering positive momentum and our other sectors are proving resilient. The group continues to operate in a tough market environment, however with targeted investments in core sectors we remain focused on delivering long-term growth.

"We are confident that we will navigate the current conditions through strong engagement, high productivity, operational efficiency and active management of the group's cost base.

As of 1030, Gattaca shares had rallied 8.04% to 77.25p.

Reporting by Iain Gilbert at Sharecast.com