27th Jul 2020 09:59
(Alliance News) - Kainos Group PLC on Monday said it will make a special dividend payout as the IT provider reported "resilience" in its trading so far this financial year.
Shares in the software firm, which focuses on the public, healthcare and financial services sectors, surged 18% to 973.00 pence each in London on Monday morning, the best FTSE 250 performer.
Kainos, which had opted not to make a final payout for the financial year ended March 31, will release a special dividend of 6.7 pence. It added that it also expects to return to its usual cycle of paying an interim and final payout.
"The resilience in our business has been driven by our long-term relationships with our customers, by on-going demand within the NHS, Public Sector and Workday segments and by our diversification of revenues across customers, end markets and geographic regions," Kainos said.
Despite Covid-19, it expects annual revenue and adjusted profit to be "well ahead" of current consensus forecasts.
Kainos said it will repay the UK government the funds it accessed under the Coronavirus Job Retention Scheme, which saw the company furlough 131 employees.
"During the early stages of Covid-19, we successfully adapted to the changing business environment, and we remain confident that we will be able to respond to any future challenges in the wider macro-economic backdrop," Kainos said.
"However, we maintain our view that it is too early to predict the duration or the severity of the Covid-19 economic disruption and any impact it will have on our customers."
By Eric Cunha; [email protected]
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