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LONDON (Alliance News) - Kainos Group PLC on Monday said its profit increased significantly in the first half of its current financial year, boosted by new and existing customer demand.
The consulting and software solutions provider said pretax profit grew by 28% to GBP8.7 million in the six months to September 30 from GBP6.8 million reported for the same period a year earlier.
Revenue rose to GBP67.2 million from GBP41.1 million year-on-year. Digital Services revenue grew 75% to GBP57.3 million driven by growth in both Digital Transformation and Workday services.
In Europe, the company said it secured 33 new Workday deals, compared to 16 last year.
Digital Platform revenue increased by 13% to GBP9.9 million, helped by growth in Smart, where customer numbers rose to 139 from 103 in the prior year.
Research & development costs were lower at GBP2.2 million compared to GBP2.6 million a year ago, due to a reduction in staff involved in Evolve product development.
Kainos delared an interim payout of 2.8 pence a share, up 40% from 2.0p paid the year before.
"An exceptionally strong six month performance means that we are well on the way to achieving a ninth consecutive year of growth - in terms of our people, customers, revenue and adjusted pretax profit," said Chief Executive Brendan Mooney.
"The group's pipeline of prospects continues to strengthen across all divisions and the board believes that the group is well-positioned for growth both in the short-term and in the coming years," added Mooney.
Kainos shares were trading up 0.3% on Monday at 421.44p each.
