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Engineering and Technology staffing company Gattaca lifted its forecast on annual profit as performance was boosted by a recovery in the recruitment market.
'[W]e expect our continuing underlying PBT for the full year to be in excess of £3 million (market consensus £2.7 million),' the company said.
In the second half of the year, continuing net fee income was 7% higher than H1 2021, with the full year net fee income at £42.5 million, down from £52.8 million, reflecting 'the market impact of the COVID-19 pandemic over the entire reporting period,' the company said.
'We have seen increased activity from our "RPO" (permanent recruitment process outsourcing solutions) clients as the market recovery has been led by permanent recruitment both in contingent and solutions products,' the company said.
Looking ahead, the company sees further improvement to come on the contract front including in its core infrastructure unit, which would benefit from strong demand, driven by major initiatives such as UK Fibre investment, HS2 and Offshore 2025,