Last checked at 22 Jan 2021 07:00
22 January 2021
Kainos Group plc
("Kainos" or "the Company")
Trading Update
Kainos Group plc (KNOS), a leading IT provider, operating across two specialist business areas, Digital Services and its Workday Practice, today issues a trading update for the period from 16 November 2020 to date.
The continued momentum in our business has driven a strong trading performance and we therefore expect results for the year ending 31 March 2021 to be ahead of current market consensus expectations.
Within our Digital Services division, we continue to work on several substantial, long-term engagements as part of the UK Government's digital transformation programme, including supporting the NHS as it responds to Covid-19.
The scale, quality and global reach of our Workday Practice means that we continue to win new consulting contracts across all our operating regions. Smart, our specialist Workday automated testing platform, continues to drive new client acquisitions and supports over 200 international clients, particularly within North America.
We appreciate the trust that our customers continue to place in Kainos and we recognise that our business performance has been driven by the exceptional commitment of our people. We remain extremely grateful for the engagement of our customers and the flexibility and resilience of our people.
We are mindful of the on-going challenges caused by Covid-19 and EU Exit, but we believe that we are well-positioned for further growth and we remain confident in our strategy.
Looking ahead, our robust pipeline, strong balance sheet and significant contracted backlog underpins our confidence in our outlook.
The announcement of our results for the full year ending 31 March 2021 will be made on 24 May 2021.
Ends
For further information, please contact:
Kainos via FTI Consulting LLP
Brendan Mooney, Chief Executive Officer
Richard McCann, Chief Financial Officer
Investec Bank plc +44 20 7597 5970
Patrick Robb / Ben Griffiths
Canaccord Genuity +44 20 7523 4606
Simon Bridges / Emma Gabriel
FTI Consulting LLP +44 20 3727 1000
Matt Dixon / Dwight Burden / Kwaku Aning
About Kainos
Kainos Group plc is a UK-headquartered provider, across two specialist business areas, Digital Services and Workday Practice.
The Group's Digital Services include full lifecycle development and support of customised Digital Services for public sector, healthcare and commercial customers. These transformative solutions encompass a range of services from experience design to Artificial Intelligence and Cloud to deliver truly intelligent solutions that are secure, accessible and cost-effective.
The Group's Workday Practice is one of Workday's most respected partners. As a full-service partner, we are experienced in complex deployment and integrations, and the leader in Workday test automation. We're trusted by our customers to launch, test, expand and safeguard their Workday systems.
Kainos has over 1,700 people across 15 offices in Europe and North America.
Kainos is listed on the London Stock Exchange (LSE: KNOS). For further information, please visit www.kainos.com.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The person responsible for arranging the release of this announcement on behalf of Kainos is Gillian Poole, Corporate Manager.