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Gattaca sees annual fee income dropping 22% as lockdowns weigh

By BFN News | 07:53 AM | Friday 17 July, 2020

Recruitment company Gattaca said it expected net fee income for the year to fall by more than a fifth despite a better-than-expected performance in the three months through June. 'Trading during April, May and June 2020, reflecting the impact of the UK government measures due to Covid-19, has been 41% below last year,' the company said. A number of measures were taken to strengthen the business, including the acceleration of a group-wide improvement plan, enabling the company to perform ahead of its expectations. Looking ahead, Gattaca said net fee income for the year ending 31 July 2020 was expected to be in the region of £54m, down about 22% from £69m on-year. The previous consensus forecasts were £64m, with the majority of the shortfall seen in UK net fee income. The company said it expected to announce its full year results for the 12 months to 31 July 2020 on Wednesday 4 November 2020. Story provided by

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