REG - Gattaca PLC - Trading Statement

GattacaAnnouncement

15/02/2023 07:16

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RNS Number : 9349P  Gattaca PLC  15 February 2023

15 February 2023

 

Gattaca plc

 

("Gattaca" or "the Group")

 

Trading Update for the six months ended 31 January 2023

 

Gattaca plc ("Gattaca" or the "Group"), the specialist STEM staffing solutions
business, today provides the following trading update for the six months ended
31 January 2023.

 

·      Group NFI(1) expected to be £22.7m (H1 22: £21.6m), an increase
of 5.1% YoY

 

·      NFI mix split between Contract 68% / Permanent 32% (H1 22:
70%:30%).

 

·      Double digit growth in our core sectors, with Infrastructure,
Defence, Energy and Mobility. Held back by Technology skills, Rail Site and
International.

 

·      Permanent hiring has shown signs of weakness since the turn of
the year

 

·      The Group expects to report statutory net cash at 31 January 2023
of £21m (31 July 2022: net cash of £12m). This improvement has primarily
been driven by strong trade receivables collection performance.

 

Interim results

The Group will announce its results for the six months to 31 January 2023 on
Thursday 30 March 2023.

 

 

Matthew Wragg, Chief Executive Officer said:

 

"I am happy to see NFI growth across H1 2023 as we focus on improving
performance. Progress continues on our four strategic priorities and building
the business for the medium to long term. We are now benefitting from our
early work around culture and engagement, which has lowered our attrition
rate, and is enabling us to increase productivity.

 

As we enter the second half, we are conscious of softening in some external
sectors, and perm is likely to be impacted by a level of restraint around
hiring, shifting candidate sentiment and, as such, slightly longer hiring
cycles. Despite this we continue to see demand for STEM skills in our core
sectors and the shortage of candidates plays to our key strength of deep
knowledge and understanding of our sectors and niche skills."

 

 

1. NFI is calculated as revenue less contractor payroll costs

 

 

For further information please contact:

 Gattaca plc                                                            +44 (0) 1489 898989
 Matthew Wragg, Chief Executive Officer

 Oliver Whittaker, Chief Financial Officer

 Liberum Capital Limited (Nomad and Broker)                             +44 (0) 20 3100 2000
 Lauren Kettle

 Richard Lindley

 

 

 

 

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