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Gattaca

September 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • GATC
  • Price:
  • 55.5p
Gattaca has issued a pre-close statement ahead of results on 4 November. Trading during April, May and June 2020 reflected the impact of the UK lockdowns with Net Fee Income (NFI) falling 41% year-on-year with contracts (c. 70% of NFI) down 36% and perms down 52%.Overall, NFI for the year to 31 July is  c.£54m or 22% below the prior year. Management’s business improvement and cost reduction plan continues apace. As its business has shrunk, working capital has unwound whilst significant action has been taken to improve liquidity including VAT deferrals (£10m) and aligning contractor payment terms to normal practice (moving from 7 to 28 days), which has left it with a net cash position of £23m versus net ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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