Gattaca (GATC)

Sector:

Support

Index:

FTSE AIM All-Share

108.16p
   
  • Change Today:
      1.66p
  • 52 Week High: 146.00
  • 52 Week Low: 77.50
  • Currency: UK Pounds
  • Shares Issued: 31.52m
  • Volume: 0
  • Market Cap: £34.09m

Lower technology net fee income weighs on Gattaca shares

By Iain Gilbert

Date: Tuesday 06 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Specialist engineering and technology recruitment business Gattaca guided towards full-year underlying pre-tax profits to come in slightly ahead of market expectations but said that net fee income fell in the group's UK technology division, sending its shares south at the bell.
Gattaca expected net fee income for the year ended 31 July to be £71.4m, in line with its previous year, while its UK engineering unit was set to grow 5% year-on-year and its international operations were pegged to increase 3%.

However, Gattaca's UK technology wing saw a 19% decline in net fee income as the effects of its planned restructuring only began to feed through towards the end of the period, taking its toll on shares.

"As such, this business continued to contribute around £5m to profits and we expect operating contribution prior to overhead allocation only to be slightly down on [the] prior year. We expect this business to return to growth next year," said Gattaca.

Looking ahead to its fully-audited results, Gatacca said underlying pre-tax profits would be slightly above market expectations and noted that net debt would also be at a lower than expected level of roughly £25m.

Chief executive Kevin Freeguard said: "The group delivered NFI growth both in UK engineering and our international businesses, partially offset by UK technology where we are refocusing on profitable business. These improvements will flow through to profit before tax.

"We are making good progress improving the business and I am confident that the actions we are taking will continue to position us well for the future."

As of 1100 BST, Gattaca shares had sunk 12.79% to 129.50p.

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Gattaca Market Data

Currency UK Pounds
Share Price 108.16p
Change Today 1.66p
% Change 1.56 %
52 Week High 146.00
52 Week Low 77.50
Volume 0
Shares Issued 31.52m
Market Cap £34.09m

Gattaca Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.15% below the market average46.15% below the market average46.15% below the market average46.15% below the market average46.15% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
58.97% above the market average58.97% above the market average58.97% above the market average58.97% above the market average58.97% above the market average
32.67% above the sector average32.67% above the sector average32.67% above the sector average32.67% above the sector average32.67% above the sector average
Income
8.84% above the market average8.84% above the market average8.84% above the market average8.84% above the market average8.84% above the market average
10.77% below the sector average10.77% below the sector average10.77% below the sector average10.77% below the sector average10.77% below the sector average
Growth
7.23% below the market average7.23% below the market average7.23% below the market average7.23% below the market average7.23% below the market average
16% below the sector average16% below the sector average16% below the sector average16% below the sector average16% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Gattaca Dividends

  Latest Previous
  Final Special
Ex-Div 02-Nov-23 02-Nov-23
Paid 15-Dec-23 15-Dec-23
Amount 2.50p 2.50p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Gattaca Key Personnel

CEO Matt Wragg
CFO Oliver Whittaker

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