Kainos Group PLC - London-based IT provider in three divisions of Digital Services, Workday Services, and Workday Products - Revenue for the financial year that ended March 31 is slightly below the consensus market expectation of £400.7 million, Kainos says. It notes range of revenue expectations is £395.1 million to £404.1 million. Adjusted pretax profit is in line with consensus of £76.3 million, it says, noting the range is £71.7 million to £78.6 million. For financial 2023, Kainos had reported £374.8 million in revenue and £67.6 million in adjusted pretax profit, so financial 2024 consensus would have represented increases of 6.9% and 13%, respectively. Kainos will release its annual results on May 20.

‘Overall, our business has continued to prove resilient in the current economic climate, particularly in our Workday Products and Services segments,’ Kainos says, adding: ‘In the near-term, an increased backlog, a robust pipeline and a strong balance sheet provide excellent visibility of the strength of our performance in the current financial year.’

Current stock price: 979.00 pence, up 1.7% in London on Monday

12-month change: down 29%

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