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Gattaca maintains divi despite fall in profits

By BFN News | 08:27 AM | Thursday 09 November, 2017

Gattaca's revenues rose by 4% to £642.4m in the year to the end of July. Net fee income rose to £74.7m - up 2% on a statutory basis and 3% underlying. Statutory pre-tax profits fell to £11.5m from £15.1m. On an underlying basis, pre-tax profits fell to £16.2m from £20.4m. The group declared a final dividend of 17.0p per share - unchanged from a year ago - and maintaining the total for the year at 23.0p. Chief executive Brian Wilkinson said: 'Whilst the group's headline results reflect a challenging year, there has been significant progress in many areas of the business and we are confident of further improvement in 2018. 'Overall we believe our UK business performed slightly better than the market and we managed operational costs well. 'During the year we rolled-out Matchtech's long-established strategy to Networkers. 'This strategy of operating in specialist markets and nurturing deep and enduring client relationships, supported by strong centralised marketing and business development programmes, continues to deliver high productivity by our consultants and a leading Conversion Ratio (adjusted operating profit to net fees). 'Our Gattaca Solutions offering is gaining traction with a number of contract extensions and upgrades last year and an exciting pipeline of opportunities for 2018. 'Whilst this roll-out led to increased Group support costs during the year, these investments will deliver returns in 2018 and beyond. 'Internationally, the diversification and growth of our client base has progressed well. Our regional management teams have carefully selected vertical markets in which to roll out our Matchtech brand and through our Networkers brand have developed higher level IT business to complement our legacy telecoms infrastructure market business. 'New management has been introduced to our Middle East and South Africa businesses, complementing the strong management teams established in the Americas and Asia last year. 'Our positive Q4 exit rates in North America and Asia lead us to expect further significant growth in these markets over the coming year.' At 8:27am: (LON:GATC) Gattaca PLC share price was +2.38p at 312.38p Story provided by

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