1st Sep 2021 09:07
(Alliance News) - Kainos Group PLC said Wednesday its trading from the start of April continued to be resilient across the business as organisations increase their investment in digital solutions.
The London-based IT services provider for public sector, commercial and healthcare sectors said its performance was further enhanced by its long-term customer relationships and the expansion of revenue across customers, markets and geographic regions.
As a result, for the full year ending March 31, 2022, Kainos expects revenue to be ahead of current consensus forecasts and adjusted profit to be in line with consensus forecasts.
It posted revenue and adjusted pretax profit of GBP234.7 million and GBP57.1 million respectively in financial 2021.
"Growth in Digital Services continues to be strong as demand across the Public, Commercial and Healthcare sectors in the UK remains robust. Internationally, we are encouraged by our early progress as we expand our client base in Europe and North America," Kainos said.
It added: "Within the Workday Practice, we continue to benefit from the established geographic scope of our business, and we have secured significant new consulting contracts nationally and internationally. Smart Test, our Workday automated testing platform, continues to win new clients and drive very strong growth, and we are delighted to launch Smart Audit."
Separately, Kainos said it has expanded its Americas Workday operations by acquiring UNE Consulting for an undisclosed sum.
The acquisition is Kainos's fifth in the Workday partner ecosystem and the second in the Americas, after the acquisition of IntuitiveTEK, based in Denver, Colorado, in 2020, it added.
Shares in Kainos were 0.5% lower in London on Wednesday morning at 1,953.00 pence each.
By Paul McGowan; [email protected]
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