Business
Trading Update for the year ended 31 July 2024
Trading Update for the year ended 31 July 2024.
About this update from Gattaca Plc
[{"type":"text","content":"\n\n15 August 2024\n \nGattaca plc\n \n(\"Gattaca\" or the \"Group\")\n \nTrading Update for the year ended 31 July 2024\nResilient performance in line with market expectations\n \nGattaca plc, the specialist staffing business, today provides the following trading update for the year ended 31 July 2024 (\"FY24\").\n \n \nFY24 Highlights\n· Group continuing Net Fee Income1,2 (\"NFI\") expected to be £40m (FY23 restated2: £42.2m), a decrease of 5% year-on-year (\"YoY\"), as anticipated.\n \n· Contract NFI up 3% YoY following growth in contractor numbers of 4% during the second half of FY24. This aligns with the Group's focus on delivering contract growth over the last 18 months. Permanent NFI down 29% YoY (19% on a like for like basis3). \n \n· FY24 Group underlying Profit before Tax expected to be in line with the Group's previously announced guidance of £2.4m to £2.7m. Statutory net cash at 31 July 2024 of £21m (31 July 2023: net cash of £21.6m).\n \n· The Group's two largest sectors showed positive trends, with Defence up 7% YoY on a like-for-like basis3, whilst Infrastructure grew by 12% in H2 compared to H1. There has been strong growth in Gattaca Projects of 31% YoY. USA in-country operations have been exited during H2.\n \n· Sales headcount has been managed during FY24 to 291 from 315 at the FY23 year end. YoY H2 productivity per sales head has increased by 6% as the benefits of our market leading digital platform and Sector focus start to be realised.\n \n \nDividend\nThe Board intends to recommend a full year dividend of 2.5p per share, expected to be paid in December 2024 following approval at the AGM. Further details on the proposed dividend timetable will be provided at the time of the Group's final results for FY24.\n \n \nOutlook\nWith our growing momentum we expect to increase market share in our target sectors and are well positioned for both investment and further growth as market conditions improve. Whilst mindful of the macro-economic headwinds affecting the recruitment sector, the Board believes it will meet market expectations for FY25.\n \n \nNotice of FY24 Re...