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Gattaca warns on profits, citing UK economic and political uncertainty

By BFN News | 01:43 PM | Wednesday 29 January, 2020

Engineering and technology recruitment firm Gattaca warned its annual profit would fall short of analysts' expectations, due to a 'challenging' economic and political climate in the UK. Underlying pre-tax profit for the year through July was not expected at around £6.0m, below consensus estimates of about £10.0m. Net fee revenue had fallen 11% in the first five months of the company's financial year. 'The market has not recovered as quickly as expected and short-term growth remains uncertain, despite the decisive result in December's general election,' Gattaca said. 'The timing of UK investment in major infrastructure projects is still not clear and certain manufacturing, automotive and rail sectors continue to be impacted by a lack of confidence.' At 1:43pm: (LON:GATC) Gattaca PLC share price was -15.5p at 89.5p Story provided by

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