Gattaca shares advance after H1 update

AIM-listed IT & telecoms recruiter Gattaca (LON:GATC) has said that net fee income for the six months ended 31st January were up by 2%, driven by strong international performance against a static UK operation.

Chief Executive Officer Kevin Freeguard commented: “The first half of FY19 was a period of progress for the Group, as the restructuring we undertook in Q1 began to bear fruit. The Group has performed in line with expectations, with UK Engineering delivering solid growth and our international operations which continuing to grow strongly. UK Technology, particularly Telecoms, was impacted by the Q1 restructuring, however we are encouraged by the initial performance following steps taken to reposition the business during the half.

“The progress made on net debt is positive and our full year outlook remains in line with the Board’s expectations. I look forward to updating the market further in April“.

Gattaca’s share price rose by 5.51% to 117.38p (as of 14:20 GMT).