GB : Gattaca - UK recovery momentum builds

Gattaca has issued an unscheduled update due to a strong Q3 performance, with recovery in UK markets ahead of expectations. We increase FY21E NFI by 2.2% and adj. PBT by £2.2m to £2.7m. A return to paying dividends is expected at the FY. We think that the risk to forecasts is on the upside, given management’s self-help initiatives combined with exposure to the growth markets of STEM, defence and infrastructure. TP raised from 180p to 260p.

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