StockMarketWire.com - Specialist engineering and technology recruitment group Gattaca swung to a first-half loss after net fee income fell and it shuttered its Chinese operations.

Net losses for the six months through January amounted to £0.65m, compared to a profit of £0.93m on-year.

Revenue from continuing operations dropped 7.6% to £297.9m, while continuing underlying profit fell 60% to £2.7m.

UK engineering fee income fell due to challenging market conditions, the company said.

UK technology income sank 25%, which the company said was attributable, in part, to a strategic 20% reduction in headcount following a restructuring of the business.

Gattaca did not pay an interim dividend.

With regards to Covid-19 the company said it was currently experiencing a significant reduction in permanent placements and a reduction in active contractors of about 20% from pre-Covid-19 levels.

Gattaca said over a third of its UK workforce had been placed into the government's Coronavirus Job Retention Scheme.


At 3:00pm: [LON:GATC] Gattaca PLC share price was -7.45p at 36.55p



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