Kainos Group PLC - London-based IT provider in three divisions of Digital Services, Workday Services, and Workday Products - Revenue for the financial year that ended March 31 is slightly below the consensus market expectation of GBP400.7 million, Kainos says. It notes range of revenue expectations is GBP395.1 million to GBP404.1 million. Adjusted pretax profit is in line with consensus of GBP76.3 million, it says, noting the range is GBP71.7 million to GBP78.6 million. For financial 2023, Kainos had reported GBP374.8 million in revenue and GBP67.6 million in adjusted pretax profit, so financial 2024 consensus would have represented increases of 6.9% and 13%, respectively. Kainos will release its annual results on May 20.
"Overall, our business has continued to prove resilient in the current economic climate, particularly in our Workday Products and Services segments," Kainos says, adding: "In the near-term, an increased backlog, a robust pipeline and a strong balance sheet provide excellent visibility of the strength of our performance in the current financial year."
Current stock price: 979.00 pence, up 1.7% in London on Monday
12-month change: down 29%
By Tom Waite, Alliance News editor
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Kainos Group (KNOS)