17th Aug 2021 10:55
(Alliance News) - Gattaca PLC on Tuesday said it expects to report annual results ahead of market forecasts but below the prior year's levels.
The Fareham, England-based employment agency said continuing net fee income for the six months to July 31 was 7% higher than for the six months to January 31, with the full year net fee income at GBP42.5 million, lower than GBP52.8 million the year earlier, reflecting the market impact of the Covid-19 pandemic.
Gattaca noted that its front line headcount increased by 13% since January, whilst it was tightly managing the overall cost base.
Consequently, subject to final adjustments and audit, the company said it expects continuing underlying pretax profit for the financial year that ended on July 31 to be in excess of GBP3 million, beating market consensus of GBP2.7 million. A year ago, the company posted continuing underlying pretax profit of GBP4.6 million.
Gattaca also said it anticipates the recommendation of a modest dividend when the full year results are announced, which is expected on November 4.
"Whilst the pandemic continues to impact activity across our markets, it is clear that we have now entered the next phase of recovery," said Chief Executive Kevin Freeguard.
Gattaca shares were trading 8.5% lower in London on Tuesday at 226.00 pence each.
By Evelina Grecenko; [email protected]
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