FINANCIALS: Gattaca results ‘overshadowed’ by Covid pandemic

Specialist engineering and technology recruiter Gattaca reports a period “overshadowed by the onset of the Covid-19 pandemic”.

Announcing its preliminary results for the year ended 31 July 2020 this week, the report also highlights “strategic progress” toward the group’s goals.

The group’s continuing underlying profit before taxes was £4.6m, 61% lower year-on-year from 2019’s restated £11.7m, with the base continuing underlying earnings per share of 10.3p at 64% lower year-on-year than 2019’s restated EPS of 28.4p.

A “robust” balance sheet revealed an adjusted net cash position of £27.3m at 31 July 2020, compared to a £24.8m net debt in 2019. A Gattaca statement said that reduction of net debt had been “a key focus” over the last three years, with net debt at £40.3m in July 2017.

The group’s fall in continuing underlying net fee income (NFI), which at £54.3m was 21% lower year-on-year, was attributed to the Covid-19 pandemic.

Among the activity highlights was a restructuring carried out that is expected to deliver £4m in annualised cost reductions from November 2020. 

• Comment below on this story. Or let us know what you think by emailing us at [email protected] or tweet us to tell us your thoughts or share this story with a friend.

Government and companies create jobs across the UK

A record £650bn infrastructure investment will support 425,000 jobs a year, according to a new Infrastructure Pipeline.

16 September 2021

CONTRACTS & DEALS: 6-10 SEPTEMBER 2021

This week’s new contracts & deals include: Beeken Reeves, Caval, Compono, ettain, GKR London, Greenbean, idibu, ManpowerGroup

Contracts 6 September 2021

NEW TO THE MARKET: 23-27 AUGUST 2021

This week’s new launches include: Reliance Talent Acquisition, YouthMobilityJobs

New to Market 23 August 2021

RBW Consulting expands in US with San Diego office

Life sciences recruiter RBW Consulting has opened a new San Diego office to lead its US West Coast expansion.

New to Market 19 August 2021
Top