- Recruitment company Gattaca said it expected a slower-than-expected recovery in net fee income but forecast annual profit inline with market expectations amid cost cuts and underlying improvements across its business.

The company expected to report net fee income of £21.1 million for the six months ended 31 January, and said net fee income for 2021 was likely to be at a slower rate than previously forecast owing to the impact of the pandemic.

Annual underlying pre-tax profit, however, was currently expected to be in line with market expectations thanks to cost cuts and the underlying improvements in the business, the company said.

In the first quarter of its fiscal year, the company reported quarter-on-quarter UK NFI growth of 9% versus Q4.

UK NFI in Q2 was 2% higher than Q1, partly impacted by 'the return of tiered COVID-19 restrictions and extended national lockdowns, coupled with the seasonal impact of the lower number of days worked by contractors over the Christmas period,' it added.

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