14th Feb 2019 10:35
LONDON (Alliance News) - Kin & Carta PLC on Thursday said it has been trading in line with expectations in the first half of its financial year.
For the six months ended January, the management consulting company expects like-for-like revenue in line with the prior year. Last year, under the name St Ives PLC, the firm posted interim revenue of GBP146.5 million and a pretax loss of GBP15.0 million.
The company changed name to Kin & Carta in October 2018.
"Strong revenue growth in the Innovation pillar was driven by several significant new client wins and increased demand from existing accounts," the firm said.
"Revenue from the Strategy and Communication pillars decreased during the period as those pillars, as planned, move away from lower margin work and shift their propositions toward digital transformation."
The company, during the half, sold its Redditch warehouse for "greater than expected net proceeds" of GBP7.2 million, realising a profit on sale of GBP2.0 million.
"The board is pleased with the progress that has been made in the first half in achieving the strategic priorities identified at the year end. The company remains focused on becoming a global leader in digital transformation services, and is making strong progress on its objectives as it continues to invest in growth," Kin & Carta concluded.
The firm will publish its half-year results on March 14. Kin & Carta shares were trading up 2.6% at 97.20 pence each on Thursday.
Related Shares:
KCT.L