Kainos Group PLC on Thursday reported ‘good’ trading in its first half year and said it expects full-year results to meet expectations.
The Belfast-headquartered IT service provider said results for the financial year ending March 31 next year should be in line with current consensus forecasts, which anticipate adjusted pretax profit between £72.6 million and £78.1 million and revenue between £418.2 million and £434.2 million. This would compare with £67.6 million in profit on £375 million in revenue in financial 2023.
‘Despite the uncertain trading environment, our customers continue to maintain their investment in digital projects and trading in the first half has been good,’ Kainos explained.
Kainos said its Digital Services division gave a ‘solid performance’ with ‘sustained demand’ from public sector clients, while Workday Services ‘continues to generate strong growth’ as Kainos engages with clients in notable European and North American markets.
Kainos also continues to prioritise client base expansion for the Workday Products division, with its Smart Test, Smart Audit and Smart Shield products likewise continuing to generate ‘very strong’ growth.
The company said: ‘Looking forward, our robust pipeline, strong balance sheet and significant contracted backlog support our confidence about the future, and we believe that we are well-positioned for further growth and remain confident in our strategy.’
Shares in Kainos were up 0.7% at 1,235.97 pence in London on Thursday morning.
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