FINANCIALS: Gattaca blames one-off costs for below par profits

Specialist international recruitment group Gattaca anticipates profits for the year ended 31 July 2017 to be 10-15% below previous expectations.

According to a trading update, released this morning, the group revealed unanticipated one-off cost overruns related to the setting up of international entities to support a pan-European contract win and delays in realisation of back office cost savings had resulted in central overheads exceeding expectations in H2.

In addition, the group noted it has been making appropriate investments to ensure that it has the infrastructure to build a “truly scalable” business and has continued to strategically invest in sales headcount, up 24 since 31 July 2016.

“We expect to see a return on these investments during the second half and beyond. We are particularly confident that the headcount investments which we have made in our overseas businesses will lead to accelerated growth next year,” the statement added.
    
The group's interim results will be released on 20 April 2017.

• What are your views on this issue? Email us at recruiter.editorial@redactive.co.uk or tweet us below to tell us your thoughts. We will run comments online in a round-up at the end of the week.

Email story to a friend

HMRC wins IR35 case against BBC presenter Ackroyd

HM Revenue & Customs has won an IR35 case against former BBC Look North presenter Christa Ackroyd at tribunal.

Legislation 15 February 2018

Recruiter CSG makes employees shareholders in the business

Leeds-based recruiter CSG has moved to make all its employees shareholders of the business.

Financials 14 February 2018

FINANCIALS: Randstad posts double-digit increase in revenues

Recruitment giant Randstad has posted a 13% increase in annual revenues, according to its full-year 2017 results.

Financials 13 February 2018

FINANCIALS: TrueBlue optimistic despite drop in revenue

US blue-collar recruiter TrueBlue has seen revenue fall 9% year-on-year, according to a results statement for Q4 2017.

Financials 8 February 2018
Top