Kainos boosts dividend as Workday partnership supports sales growth

(Alliance News) - Kainos Group PLC on Monday said it is well placed for further progress in the year ahead as it reported increased annual profit on the back of higher sales.

The London-based Workday partner and provider of IT services to public sector, commercial, and healthcare customers said pretax profit increased 19% to GBP58.1 million in the financial year to March 31 from GBP48.6 million the year prior.

Revenue was 17% higher at GBP431.1 million from GBP367.2 million, with annual recurring revenue increasing by 23%, or 24% at constant currency, to GBP89.0 million from GBP72.6 million.

Bookings grew by 32% to GBP505.3 million from GBP382.4 million and the year-end contracted backlog rose 18% to GBP433.9 million from GBP368.2 million.

Diluted earnings per share increased 24% to 35.1 pence from 28.2p, or by 7.3% to 41.1p from 38.3p on an adjusted basis.

"This was a positive year for Kainos, with excellent revenue growth. Our strong customer relationships and significant contracted backlog position us well for further progress in the year ahead," CEO Brendan Mooney said.

Kainos said Workday Products continued its rapid growth and is on track to reach annual recurring revenue of GBP100 million by the end of 2026 and GBP200 million by the end of 2030.

Kainos is an approved service, software, and Extend partner for Pleasanton, California-based

Workday Inc.

In addition to Workday Products, Kainos expects further growth in its Digital Services business, led by public sector and healthcare segments in the UK and a strengthened position in North America.

Kainos announced a 19.8p per share final dividend, up from 19.1p a year ago, with its total payout up 4.2% to 29.6p from 28.4p.

Shares in Kainos fell 4.2% to 780.00p each in London on Monday and are up 3.6% over the last 12 months.

By Jeremy Cutler, Alliance News reporter

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Kainos Group