5th Sep 2018 12:11
LONDON (Alliance News) - Kainos Group PLC on Wednesday said it expects results for its current financial year to beat market expectations, after a strong start to trading so far.
Kainos is a provider of IT services and software. Its financial year began on April 1 and runs to March 31, 2019. Kainos recorded pretax profit of GBP14.3 million on revenue of GBP96.7 million in the financial year that ended this past March.
Kainos said the new year so far has been boosted by growth in two of its key divisions, Digital Services and Workday.
Digital services continues to grow through engagement with commercial clients and from the UK government's digital transformation programme.
Meanwhile, Workday is reaping the benefits of growth in post-deployment services alongside in an increasing book of business, which comes following geographic expansion across continental Europe.
Indeed, momentum from the previous year has carried into this year to offset in part the difficult conditions faced by Kainos' third division, Evolve, due to the lack of NHS trust funding.
Kainos shares were trading up 11.2% at 406.00 pence on Wednesday.
Kainos's results for the six months ending September 30 will be released on November 26. In the first half of financial 2018, Kainos recorded pretax profit of GBP6.8 million on revenue of GBP41.4 million.
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