The results for the six months to January were encouraging on several levels: productivity improved, costs fell, and the conversion ratio rose. The investment in strategic growth sectors was rewarded, with improving NFI within energy and infrastructure. Elsewhere, headcount was reduced as the Group adapted to challenging markets. Nonetheless, NFI declined just 3%, outperforming much of the staffing sector as the Group benefitted from the change in strategy and a 71% exposure to contract fees. Unchanged guidance for FY25 is welcome, although a continuation of politically led reductions in economic confidence causes us to lower growth expectations for FY26.
Gattaca: Equity Development
Apr 2, 2025Disclaimer & Declaration of Interest
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