FINANCIALS: Gattaca reports £21.1m NFI

In a trading update for the six months ended 31 January 2021, engineering and technology recruiter Gattaca has said it expects to report net fee income of £21.1m.

The NFI figure, the company said, primarily reflects the market impact of the global pandemic over the entire reporting period. The first half of 2020’s NFI was £31.8m. The company said also that it expects to report net cash before IFRS16 adjustments of £22.9m, compared to £27.3m in the first half of 2020.

“Improving activity levels in our core markets continued through Q1 and we were pleased to deliver quarter-on-quarter UK NFI growth of 9% versus Q4,” a company statement said. 

The company warned that NFI recovery for FY21 was likely to “be at a slower rate than previously forecast”. However, the statement said, “we currently expect full-year underlying [profit before tax] to be in line with market expectations”.

Gattaca will announce its interim results for the six months ended 31 January 2021 on 31 March 2021.

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