Gattaca plc issued a positive trading update for the year ended 31st July. Group continuing Net Fee Income is expected to be £43.6m (FY22: £44.1m), a decrease of 1% year-on-year, with the mix split between Contract 72% and Permanent 28%. The Group expects to report continuing underlying PBT of £2.5m for FY23, ahead of expectations as a result of the Group's cost rebalancing programme and exit from low margin contracts. The Group’s balance sheet remains strong with statutory net cash at 31 July 2023 of £21m (31 July 2022: £12m.) Valuation is also attractive with forward PE ratio at 10.2x round about top third for the Professional & Commercial Services sector. Main cloud on the investment horizon is the weak economic back drop which is not helpful for the sector. GATC is a solid recruitment firm, but remains a share to monitor for the time being...
...from WealthOracle |
How did cash from 12m to 21m, I think that was a typo as I remember them having something closer to £20m before. |
Buy back will start soon , according to RNS |
Generous dividends , 5p per share , better than FTSE 100 |
Baffles me how they could zoom-up to £21m on £2.5m ???? Do you think they went short on EMP or STAF??? lol |
Bruce, started paying dividends again also a special dividend plus buyback.£21m in the bank. How many small companies with that sort of money in the bank? Also it could be a takeover target? |
My buying is showing red lol |
Mcap too low |
Chart looks peachy, but it's failed repeatedly to break upwards since May. Why should this time be any different? |
Seems good value. Definite 4 to 5% dividend coming here too. Just needs some volume...perhaps some coverage in the trade press such as Naked Trader or Investors Chronicle. Marketing like that would pull in new retail Investors. |
Company only valued about £12m when you take off the £21m cash it has. |
Well ahead of what I was expecting. Statutory cash looking stellar too imho. |
Total dividend 5p per share , share buy back 500k , profit ahead of expectations . Should bring share price their target price 200p |
5p per share dividend |
Excellent results |
A more positive FY update today than most others in sector: continuing NFI seen just 1% lower at £43.6m and expected FY23 PBT above expectations at £2.5m; outlook is realistic but confident.
Net cash of £21m at 31 July y/e allows plans for 2.5p final div, 2.5p special div, and new £0.5m share buy-back
Encouraging progress |
Or more... |
Most recent 'broker' estimate -bearing in mind 'broker' estimate using the word 'conservative', I think is 110p... as long as they don't much things up, it should imho be sat at atleast 110p tomorrow. |
Damn, appears to be breaking down from the ascending triangle chart formation. |
All sell today |
Fair enough but it's a specialist recruiter/head-hunter.... no fruit picking here |
Some weak updates from recruitment companies in recent weeks. |
My bad, FY on 16th Aug.
*But I'll bet that FY gets delayed due to auditors! Which would be consistent with most of my other holdings this year. |
31/7 is year-end. Last year, they published finals in November. |
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