Share Name Share Symbol Market Type Share ISIN Share Description
Gattaca LSE:GATC London Ordinary Share GB00B1FMDQ43 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -11.00p -4.18% 252.00p 252.00p 265.00p 263.00p 252.00p 263.00p 46,894 16:21:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 642.4 11.5 23.4 10.8 76.57

Gattaca Share Discussion Threads

Showing 176 to 200 of 200 messages
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DateSubjectAuthorDiscuss
17/1/2018
20:58
OK, understood. Guess it was nervousness about the previous unknown degree, and maybe also the sector and stage in the cycle.
briangeeee
17/1/2018
12:51
No, I mean't a potential write off of under £100k and a loss of net revenue of a maximum £500k was hard to reconcile with a loss in market value, due to the share price fall, of £9.5m...
stemis
17/1/2018
12:12
SteMiS, wondering what you mean is hard to reconcile? There are clearly quite a few variables. Simplistically........ What's the net revenue with contract staff? Maybe 10%? So, if they have £0.5m net revenue, that's maybe £5m gross. It's presumably billed and paid monthly, with maybe 45 debtor days. That might be £0.625m owing by clients. Of this, the majority is credit insured, leaving sub £0.1m uninsured exposure. The biggest unknown here is the degree of insurance cover, and at 85%, then that would make the numbers seem sensible.
briangeeee
17/1/2018
11:04
Thanks for that. Small snippet(not much else really) from it here:- However, contrary to yesterday’s 10%+ plunge in the stockprice, Gattaca said this morning that its net balance sheet exposure to Carillion was “less than £100,000”; – with existing contracts contributing Net Fee Income of around £0.5m pa. To us, given Gattaca is forecast to deliver FY18 NFI of £79.3m (£74.7m LY), then this is not material. Sure, it’s something to watch, but management have been carefully monitoring the situation for some time, and accordingly arranged credit insurance to cover any bad debts. Moreover they have been “actively engaging with the relevant Carillion counterparties to ascertain how to support the related underlying projects” in order to ensure continuity of service. Consequently, we make no change to our numbers or 380p/share valuation, and in fact have been impressed by the Board’s risk management strategies and prompt actions. Indeed we look forward to the H1’18 pre-close trading statement on 8th February, where we expect to hear news of a gradually improving demand picture - led by continued strength in International and UK Engineering, alongside further recovery in UK Technology.
cwa1
17/1/2018
10:50
after company RNS states 'minimal' exposure to Carillion, ED update note now out confirming forecasts and valuation. Free access to it here: https://www.equitydevelopment.co.uk/edreader/?ltkn=[ID]&d=%3D%3DQO3MjM
edmonda
17/1/2018
09:47
Despite the announcement the price seems to have settled 30p lower (290p -> 260p). That equates to a loss of £9.5m in market cap. Hard to reconcile that to a balance sheet exposure of <£0.1m and an annual net fee income of ~£0.5m.
stemis
17/1/2018
08:17
So no real impact. All the work that Carillion did will need to continue, either in the JVs or by the counterparty and I'd have thought there was actually a greater need for contractor staff whilst the mess is sorted out. The statement also does confirm, in a roundabout sort of way (by the absence), that there are no other reasons for the share price movement i.e. trading... That's my take.
stemis
17/1/2018
08:14
This is quite an illiquid share. Yesterday initial drop triggered further falls. This will settle back at late 200's quite quickly.
eddie1980
17/1/2018
07:32
Hmmmmm..... Statement re: share price movement Gattaca plc ("Gattaca" or the "Group"), the specialist Engineering and Technology (IT & Telecoms) recruitment solutions business, notes the recent share price fall. Gattaca has historically provided recruitment solutions to Carillion plc and its subsidiaries, primarily in the public sector arena. Whilst Gattaca has outstanding debts from the Carillion group, the vast majority of these are insured by a leading credit insurer and, at this time, we estimate our uninsured balance sheet exposure to be less than GBP100,000. The impact of Carillion's liquidation on our balance sheet will therefore be minimal. Our annual Net Fee Income from the Carillion group of companies is in the order of GBP0.5m. Gattaca continues to support the delivery of important public services and management is actively engaging with the relevant Carillion counterparties to ascertain how we can continue to support the related underlying projects which would also maintain this income, whilst ensuring that we will be paid for such services. Gattaca's Trading Update for the six months ended 31(st) January will be released 8th February 2018.
cwa1
16/1/2018
17:05
I know but it's pretty close to the end of H1 and a trading statement...
stemis
16/1/2018
14:37
Have to say I agree with that in principle SteMiS-BUT having been around long enough to see the rules flouted on numerous occasions I tend to be a little bit wary of these things! It would be a fairly spectacular breaching of the rules if they were to announce significantly poor trading, or a deep hole caused by Carillion contagion at any point in the near future, or with the regular Trading Update. Interesting.
cwa1
16/1/2018
13:56
Dividend unsustainable. Only generated £5.27m of operating cash last year and dividend was 7.2m. Divi paid for effectively by increasing net debt. I think the divi could be halved
mammyoko
16/1/2018
13:04
Hmmmm. Not quite sure what to make of that sale. On the one hand it is modest in terms of his overall holding and means that there SHOULDN'T be any bad news imminent given that he HAS just traded. On the other hand it isn't exactly a positive indicator the COO selling is it? I had been considering a small nibble here but think I might keep the powder dry on the back of this.
cwa1
16/1/2018
12:47
I'd be more concerned by the debt this business has developed.
eastbourne1982
16/1/2018
12:42
Carillion bad debt?
leading
16/1/2018
12:42
And a small director sale!
tiswas
15/1/2018
14:13
Looking at the share price action looks like more bad news on the way?
tiswas
15/11/2017
12:48
Seemed a fairly bullish webcast hxxps://www.equitydevelopment.co.uk/webinars/?d=%3D%3DAM2MjM
stemis
12/11/2017
11:03
I have now updated the GATC page of my web site, following the results. The full year charts now go back to 2008 to give a better idea of performance during good times and bad. Most of the data comes from Sharepad, whose adjusted profit and eps are frequently lower than those provided by reporting companies. This is true in the case of GATC. I really must get round to asking them what formulae they use. Http://www.david-wilmshurst.co.uk/gatc/gatc_data.htm
wilmdav
10/11/2017
05:17
Since name change from Matchtech to Gattaca the share price has plummeted from 390p to 330p. The performance of Gattaca is pretty dismal. A few years ago when the Company was still called MatchTech, the share price was circa 550p. Given the roaring employment market, there is no real excuse why this share has back-tracked so badly and performed so appallingly. Something needs to change - because the current strategy and management have presided over a 40% destruction of shareholder value and market cap. PBT was DOWN a massive 24% yesterday and that is an testament to just how poorly the Company is performing. ALL IMO. DYOR. QP
quepassa
09/11/2017
20:25
Actually Equity Development forecast was adjusted EPS of 33.9p. Actual adjusted diluted was 34.3p. Forecast net debt was £41m, actual was £40.3m. I think that entitles them to claim that results were in line with market expectations. You might consider amortisation of consolidated goodwill as a 'cost' but many don't really. I'm surprised they don't add back the share based payment charge as well which would add another 2.4p to underlying EPS. Although net debt is up £15.3m, £11.2m is due to acquisitions. On top of that you have a £5.0m adverse swing in working capital as discussed in the accounts.
stemis
09/11/2017
19:38
Despite management, stating profit is in-line with market expectation. Basic EPS of 23.4p is close to their 2011’s earnings trough of 20p. Those who use underlying EPS of 35.3p excludes amortisation and acquisition costs which are real costs. Overall, Gattaca divisions show some serious declines in Net Fee Income, with their biggest division (UK Engineering) falling by 6%. The acquisition of Resourcing Solutions Limited has saved Gattaca of an overall decline in NFI. You can blame management for their poor choice in acquiring Network International in 2015 for £58m, despite struggling to make a profit. We now know it didn’t help to boost profit at all. An interesting observation is to compare the UK unemployment rate to Gattaca EPS. Normally, Gattaca sees EPS rise when the UK unemployment was falling, this happened during 2011-15. This is normal because businesses are hiring more people to fill positions. Given that the UK unemployment is at 40-year lows and Gattaca has already fallen to the five-year low, does this mean Gattaca EPS will decline further if unemployment starts to rise? For full analysis on Gattaca, click here http://bit.ly/2zKockd If you enjoy this post, please subscribe to the blog.
walbrock82
09/11/2017
07:10
Oh dear. PBT DOWN 24%. Not a vintage year. Not good. Investors want INCREASING PROFITS and NOT INCREASING SERVINGS OF JAM TOMORROW. what a lengthy and waffling RNS. so many words, so much verbage. Not convincing. ALL IMO. DYOR. QP
quepassa
08/11/2017
08:23
There is life after all!!!!
miss womble
07/11/2017
16:43
Just waiting for the finals on Thursday Miss W.
value hound
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