Gattaca delivers 'resilient' FY performance

15th Aug 2024 09:54

(Sharecast News) - Staffing business Gattaca said on Thursday that it had delivered a "resilient performance" in the twelve months ended 31 July, in line with market expectations.

Gattaca said group continuing net fee income was expected to be £40.0m, down 5% year-on-year, while contract NFI was up 3% year-on-year following 4% growth in contractor numbers during H2.

Full-year underlying pre-tax profits were expected to be in line with previous guidance of £2.4m to £2.7m.

Gattaca added that its two largest sectors had both shown positive trends, with defence up 7% year-on-year on a like-for-like basis, whilst Infrastructure grew by 12% in H2 compared to H1.

As a result, Gattaca intends to recommend a full-year dividend of 2.5p per share.

"With our growing momentum we expect to increase market share in our target sectors and are well positioned for both investment and further growth as market conditions improve. Whilst mindful of the macro-economic headwinds affecting the recruitment sector, the board believes it will meet market expectations for FY25," said Gattaca.

As of 1100 BST, Gattaca shares were up 1.63% at 87.40p.

Reporting by Iain Gilbert at Sharecast.com