28th May 2019 09:04
LONDON (Alliance News) - Kainos Group PLC on Tuesday reported a strong annual performance, driven by rise in sales and software-as-a-service orders.
For the 12 months to March 31, the software firm posted pretax profit of GBP21.1 million, 48% higher year-on-year. On an adjusted basis, the figure was up 52% to GBP23.3 million.
Kainos posted revenue of GBP151.3 million for the year, 56% higher than the year before. Sales orders rose 31% to GBP171.7 million, with software-as-a-service orders up 38% to GBP18.4 million.
Kainos is paying a final dividend of 6.5 pence, taking the year's total to 9.3p, up 41% on the year prior.
"In what is our ninth consecutive year of growth, I am pleased to report the strongest annual performance in that period, with significant increases in the number of people working in Kainos and in sales, revenue and adjusted pretax profit growth," said Chief Executive Brendan Mooney.
Looking at each division, Digital Services revenue climbed 69% to GBP132.6 million, despite continued uncertainty due to Brexit. In Digital Platforms, revenue climbed 3% to GBP18.7 million.
"The group's pipeline of prospects continues to strengthen, and the board believes the group is well-positioned for growth both in the short term and in the coming years," added CEO Mooney.
Shares were up 5.4% on Tuesday morning at a price of 609.04 pence each.
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