Gattaca ups NFI guidance, eyes 'modest' FY dividend

Recruitment solutions firm Gattaca said on Friday that it has seen a faster rate of recovery in net fee income since reporting its interim results on 31 March than originally expected, leading it to up guidance and eye the recommendation of a "modest" dividend.

Gattaca stated it had delivered a quarter-on-quarter UK NFI growth of 13% across a broad range of segments in the third quarter and also noted that changes arising from the introduction of new tax legislation had made less of an impact on the company than anticipated.

"We now expect NFI in H2 to be in the order of 10% up on H1 2021," said Gattaca.

While the AIM-listed group acknowledged that uncertainty around Covid-19 remained, its current expectation was that this rate of recovery would continue, leading it to now anticipate that underlying continuing pre-tax profits for the year ended 31 July will be "significantly ahead" of market expectations.

"In light of the improved performance and assuming a continuation of the current positive trends, the board anticipates the recommendation of a modest dividend when the full-year results are announced," said Gattaca.

As of 0935 BST, Gattaca shares were down 0.17% at 149.75p.