23rd Nov 2015 08:43
LONDON (Alliance News) - IT consulting and software provider Kainos Group PLC Monday reported a small fall in pretax profit for its first half, the result of costs related to its initial public offering in July, and it proposed a maiden interim dividend.
In its first results since listing on the London Main Market, Kainos reported a pretax profit of GBP5.2 million, down from GBP5.7 million a year before, as revenue rose to GBP37.2 million from GBP28.8 million, mostly as a result of exceptional costs of GBP1.4 million related to its listing.
Stripping out listing costs and share-based payments, Kainos reported a pretax profit of GBP6.8 million, up from GBP5.7 million a year before.
In its Digital Services segment, revenue rose 18% to GBP24.4 million from GBP20.7 million, whilst revenue from software product segment Evolve more than doubled to GBP5.8 million from GBP2.7 million, boosted by a higher level of contract wins in the recent first half compared to the previous year.
Revenue in the Workday Implementation Services segment was flat at GBP4.1 million.
Kainos proposed a maiden dividend of 1.8 pence for the half year.
During the period it won 30 new customers, Kainos said, including the UK's Office for National Statistics, the Department for Communities & Local Government and Queen Victoria Hospital NHS Foundation Trust.
"We are pleased with the group's financial performance for the six months to September 2015. We are confident that trading is in line with market expectations and we are well positioned to deliver future growth," said Chief Executive Officer Brendan Mooney in a statement.
Shares in Kainos were down 7.4% at 259.09 pence early Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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