Gattaca plc (LON:GATC), the specialist staffing business, has announced its audited financial results for the year ended 31 July 2025.
Financial Highlights
| 2025£m | 2024£m | Variance | |
| Continuing operations | |||
| Revenue | 398.9 | 389.5 | 2% |
| Net Fee Income (NFI)1 | 38.8 | 40.1 | -3% |
| EBITDA | 3.6 | 2.6 | 38% |
| Profit before tax – reported | 2.6 | 1.7 | 53% |
| Profit before tax – underlying2 | 3.3 | 2.9 | 14% |
| Profit after tax | 1.9 | 0.8 | 138% |
| Profit/ (Loss) from discontinued operations after tax | 0.3 | (0.6) | n/a |
| Group reported profit after tax | 2.2 | 0.2 | 1,000% |
| Basic and diluted earnings per share | 7.0p | 0.6p | 1,067% |
| Diluted earnings per share | 6.8p | 0.6p | 1,033% |
| Basic underlying continuing earnings per share | 7.8p | 6.0p | 30% |
| Ordinary dividend per share | 3.0p | 2.5p | 20% |
| Net cash | 15.7 | 20.7 | -24% |
· Group NFI of £38.8m, down 3% year on year (“YoY”).
o Infrastructure, our largest contributor to Group NFI (36%) grew by 5% with particularly strong growth within Water sector.
o Defence sector, 19% of Group NFI, reduced slightly by 1%, exiting the year well with H2 up 14% YoY.
o Energy sector, 16% of Group NFI, up 17% YoY reflecting strategic investment into headcount.
o Contract NFI down 2% YoY, pleasingly the Group saw a 3% increase in contractors over the last six months to 31 July 2025 (“H2”).
o Permanent business remained subdued with NFI down 4% YoY reflecting the ongoing challenging market.
o Gattaca Projects Statement of Work (“SoW”) business NFI contracted by 24% YoY, due to anticipated key programme delays having grown 35% in FY24.
o Contract vs SoW vs Perm split 75% / 6% / 19% of Group NFI (FY24: 74% / 7% / 19%).
· Group continuing underlying profit before tax of £3.3m (FY24: £2.9m) up 12% year on year, reflecting focus on costs and productivity while top line growth is subdued.
· Group net cash of £15.7m as at 31 July 2025 (31 July 2024: £20.7m, 31 January 2025: £16.8m) reflecting a slight extension of the working capital cycle coupled with cessation of the Group’s non-recourse invoice discounting facility.
· Final dividend of 2.0 pence per share, increasing the full year dividend by 20% to 3.0 pence per share (FY24: 2.5 pence per share).
Operational Highlights
Continued delivery and emphasis on developing the four Strategic Priorities as the Group’s focus remains on achieving sustained growth:
External Focus
· Increased our scale and focus on key sectors.
· New Matchtech brand and sales and marketing capability enabling us to improve efficiency and effectiveness of go to market in our chosen sectors.
· Delivered landmark Voice of the Workforce survey, gathering feedback from over 3,000 contractors, to support clients understanding their temporary workforce needs.
Culture
· Winner of awards for culture and sustainability.
· People engagement score remains solid at 8.4 in FY24 (FY24: 8.1) and attrition has improved to 28% (FY24: 31%, and FY23: 33%).
Operational Performance
· Direct actions resulted in increase in NFI per sales head by 7%, and by 13% per total head YoY.
· Further improving sales productivity through the use of AI, automations and further leveraging our technology capability.
· Integration of InfoSec acquisition progressing well with plan on track to have migrated operations to Group platforms by the end of FY26 H1.
Cost Rebalancing
· Aligned sector profitability to leadership reward
· Continue to invest in our people and tools, including brand and scaling Group capability in front line sales, whilst maintaining cost control.
Outlook
Market conditions remain challenging, with permanent hiring remaining subdued, Gattaca sees growth potential in its chosen sectors having spent time rationalising and strengthening the Group.
The Group strategy remains consistent, with emphasis on having the right people and culture, complemented by bolt on acquisitions. Ongoing productivity improvements and robust cost control will support growth, whilst providing us the headroom to add further experienced people to the Group’s sales teams.
The Board is optimistic about the prospects of the Group with an expectation for the FY26 year ahead to achieve further growth in continuing underlying profit before tax, in line with the current market consensus of £4m.
Matt Wragg, Chief Executive Officer of Gattaca, commented:
“We are pleased to report solid performance for FY25 with PBT reported at upper end of guidance in a tough macroeconomic backdrop, delivered through proactive management of market challenges whilst continuing to invest in capability and people for sustainable growth.
We are now seeing tangible results from our strategy concentrating on markets with strong potential, retaining and deepening customer relationships, strengthening our capabilities, improving productivity, expanding our contractor base, and realising the benefits of our strategic investments.
We are pleased with the start to FY26 and speed with which we are integrating Infosec People into the Group.”
The following footnotes apply, unless where otherwise indicated, throughout these Final Results:
1. NFI is equivalent to gross profit, being revenue less direct costs.
2. Continuing underlying results exclude profit / (loss) before taxation of discontinued operations (2025: £0.5m, 2024: £(0.6)m, non-underlying items within administrative expenses relating to restructuring costs (2025: £(0.3)m, 2024: £(0.5)m), and other items (2025: £(0.3)m, 2024: £(0.6)m), amortisation of acquired intangibles (2025: £(0.0)m, 2024: £(0.1)m, and net foreign exchange losses (2025: £(0.0)m, 2024: £(0.1)m loss).
