Gattaca: Recruiter posts small profit amid industry troubles

Recruiter Gattaca has posted a small profit amid growing challenges in the recruitment industry.

The London-listed firm recorded revenue of £389.5m for the fiscal year ended 31 July 2024, up from £382.1m last year.

However, earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell by around half.

Its underlying profit before tax sat at £2.9m, down from £3.7m.

Matthew Wragg, its chief executive, said: “The delivered underlying profit before tax slightly ahead of expectations in challenging markets, we have entered fiscal 2025 with momentum in our contractor base and expect the permanent market will remain tough in the next financial year.”

We believe that the sectors in which we operate and the STEM skillsets that we provide have the right long-term fundamentals for success.”

He added: “[The firm is] improving as a business week-on-week and expect to continue to grow market share as we make further progress next year.”

Problems with the labour market have meant recruiters have had a difficult time in the last few months.

Recently, staffing firm Empresaria said earlier this month that “challenging, industry wide, market conditions that have persisted for the last two years continue to adversely impact the Group”.

Recruiter Robert Walters reported a slump in fees over the summer, while Pagegroup’s profit dropped by 13 per cent in the third quarter of the year.

Other firms like SThree and Hays have also been negatively affected by the market.