Gattaca interim NFI rises, sees 'signs of weakness'

Staffing solutions business Gattaca said on Wednesday that group net fee income had risen in the six months ended 31 January but cautioned that permanent hiring had shown "signs of weakness" since the beginning of 2023.

Gattaca stated net fee income was up 5.1% year-on-year at approximately £22.7m, with contract income making up 68% of total NFI and permanent income accounting for the other 32%.

The AIM-listed group highlighted that it had seen double digit growth in its core sectors of infrastructure, defence, energy and mobility, but said it its overall performance had been held back by its technology skills, rail site and international units.

Chief executive Matthew Wragg said: "As we enter the second half, we are conscious of softening in some external sectors, and perm is likely to be impacted by a level of restraint around hiring, shifting candidate sentiment and, as such, slightly longer hiring cycles.

"Despite this we continue to see demand for STEM skills in our core sectors and the shortage of candidates plays to our key strength of deep knowledge and understanding of our sectors and niche skills."

As of 1015 GMT, Gattaca shares were down 8.59% at 82.72p.

Reporting by Iain Gilbert at Sharecast.com