Trading Update
18/01/2022 07:00
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RNS Number : 7406Y Gattaca PLC 18 January 2022
18 January 2022
Gattaca plc
("Gattaca" or "the Company")
Trading Update
Gattaca plc, the specialist Engineering and Technology recruitment solutions
business, provides the following trading update.
Following a review by the Board of the outlook for the business for its
financial year ending 31 July 2022 ("FY22"), it now anticipates the Company's
continuing underlying profit before tax will be significantly below market
expectations. This is driven by delayed recovery in our contract business
where the improvement in our customer's demand has been slower than expected
we now foresee a lower growth rate in the second half of the financial year.
Permanent net fees are up 46% year on year with continued activity from our
"RPO" (Permanent Recruitment Process Outsourcing solutions) clients.
In the contract side of our business, which historically represents 75% of
Group NFI, we have continued to invest in people ahead of demand, with UK
sales headcount up 24% since January 2021. While it is taking longer than
anticipated to rebuild our contractor volumes to pre-pandemic levels, our
investments in technology and sales headcount have ensured Gattaca is well
equipped to meet future requirements as the contract market recovers.
The Board expects H1 2022 NFI will be around £22m (H1 2021 £20.5m) and FY22
NFI to be around £45m (FY2021 £42.1m), with continuing underlying profit
before tax for its financial year ending 31 July 2022 to be around breakeven.
We remain committed to driving sustainable recovery from the pandemic and
confident in the long-term growth prospects for the business.
The Company will announce its interim results for the six months to 31 January
2022 on Thursday 31 March 2022.
For further information please contact:
Gattaca plc +44 (0) 1489 898989
Kevin Freeguard, Chief Executive Officer
Salar Farzad, Chief Financial Officer
Liberum Capital Limited (Nomad and Broker) +44 (0) 20 3100 2000
Lauren Kettle
Robert Morton
Citigate Dewe Rogerson +44 (0) 20 7638 9571
Jos Bieneman
Lucy Eyles
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