UK-based specialist engineering and professional services staffing firm Gattaca announced net fee income (NFI) is expected to be £18.8 million for the H1 period ended 31 January 2025 (H1 2024 £19.4 million), a decrease of 3% when compared to the same period a year ago.

Gattaca’s trading update also showed that contract net fee income was down 1% year on year, driven by growth in contractors out and timesheet value, offset by increased contractor holiday during the summer and new year periods.

Permanent net fee income was down 10% compared to the prior year period, H1 2025 was up 3% on H2 2024, reflecting sequential growth.

Statement of Work NFI was down 3%, as new client acquisitions partially offset delays linked to the public sector spend review.

Total group headcount reduced by 12%, with sales headcount reduced by 10% as Gattaca focused on operational efficiency and resource allocation with headcount investment targeted at sectors showing growth opportunities. Sales to support mix improved to 71:29. This refers to the split between sales staff (71%) and support staff (29%).

“I am pleased to report that the group is trading in line with expectations,” Matthew Wragg, Chief Executive Officer said in the trading update. “Our strategic investments in growth opportunities are delivering positive momentum and our other sectors are proving resilient.”

Group guidance for FY 2025 adjusted profit before tax remains at £3 million.

“The group continues to operate in a tough market environment, however with targeted investments in core sectors we remain focused on delivering long-term growth,” Wragg continued. “We are confident that we will navigate the current conditions through strong engagement, high productivity, operational efficiency and active management of the group’s cost base.”

Gattaca will announce its results for the six months to 31 January 2025 on Wednesday 2 April 2025.

Gattaca shares last traded at £78.25, up 9.44% on the day and 14.07% above the 52-week low of £68.60 set on 4 February 2025. The company has a market cap of £22.55 million.