Although there are some promising pockets of demand (eg City recruitment) returning to the UK jobs market post BREXIT, this has not yet fed through into Gattaca’s more specialised Engineering and Technology verticals - with continued “uncertainty” resulting in “elongated hiring decisions and projects being delayed”. Here we suspect some of the headwinds have been caused by temporary scheduling difficulties at Network Rail and Highways England, along with recent softness in Telecoms (Re Ericsson and Huawei exposure). Indeed we understand Q3 LFL NFI growth (constant currency) is presently tracking at similar levels to Q2’s -2% decline, albeit encouragingly “the medium-term outlook remains positive with some signs of confidence in recent weeks”.
13 Apr 2017
Continued uncertainty and greater investment lead to expected “10-15%” reduction in FY17 PBT
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Continued uncertainty and greater investment lead to expected “10-15%” reduction in FY17 PBT
Gattaca plc (GATC:LON) | 122 0 0.0% | Mkt Cap: 38.5m
- Published:
13 Apr 2017 -
Author:
Paul Hill -
Pages:
4 -
Although there are some promising pockets of demand (eg City recruitment) returning to the UK jobs market post BREXIT, this has not yet fed through into Gattaca’s more specialised Engineering and Technology verticals - with continued “uncertainty” resulting in “elongated hiring decisions and projects being delayed”. Here we suspect some of the headwinds have been caused by temporary scheduling difficulties at Network Rail and Highways England, along with recent softness in Telecoms (Re Ericsson and Huawei exposure). Indeed we understand Q3 LFL NFI growth (constant currency) is presently tracking at similar levels to Q2’s -2% decline, albeit encouragingly “the medium-term outlook remains positive with some signs of confidence in recent weeks”.