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Annual Results

Kainos revenues up for sixth year in a row

30 May 2017 08:07

Revenues at Kainos Group, a leading UK-based provider of digital services and platforms, rose by 9% to £83.5m in the year to the end of March.

Adjusted pre-tax profit rose by 1% to £14.3m but statutory pre-tax profits fell by 7% to £13.3m.

The group said this was the sixth consecutive year of revenue and adjusted pre-tax profit growth with compound revenue growth of 46% over the last six years.

Chief executive Brendan Mooney said: "I am delighted to report another year of growth, in both our domestic and international markets.

"For the sixth consecutive year we are reporting strong growth in Digital Services, driven by demand from existing customers, new customer acquisition and geographic expansion.

"We continue to deliver major transformation programmes across UK government and we have also experienced very strong growth within the Commercial Sector, which is now the fastest growing segment within the division.

"Client demand across Europe has resulted in the opening of our Frankfurt office, alongside the established offices in Amsterdam and Gdansk.

"Our Digital Platforms division continues to make progress, despite the funding challenge in the NHS.

"The addition of 37 new customers for Smart, our market-leading Software as a Service platform for automated testing of the Workday suite is particularly exciting as it brings the total number of global customers on the platform to 92.

"Evolve Integrated Care has signed a significant contract with a UK-based NHS Clinical Commissioning Group and post-period end, live operation has started across 38 US hospitals. We remain focused on providing exceptional careers for our staff and exceptional digital products and services for our customers.

"The group's pipeline of prospects continues to strengthen across all divisions and the Board believes that the group is well-positioned for growth in the coming years."

At 8:07am: (LON:KNOS) Kainos Group Plc share price was -5.87p at 234.13p

Story provided by StockMarketWire.com

Related Company: KNOS

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