Last checked at 1 Sep 2022 07:00
01 September 2022
Kainos Group plc
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 1 April 2022 to date.
Trading in the period has continued to be very strong across both business areas as new and existing clients maintained high levels of investment in digital solutions. As a result, for the full year ending 31 March 2023, the Board expects results to be in line with current consensus forecasts*.
Against a backdrop of sustained strong market demand in the UK, our Digital Services teams continue to deliver major transformation programmes to new and existing clients across the Public, Commercial and Healthcare sectors.
In the fast-growing Workday services market, our Workday Practice continues to benefit from our well-established global presence and reputation. As announced recently, we are delighted to have been appointed a Workday Phase 1 Prime Status Partner in the US and are now a Phase 1 Partner in all major European and North American markets.
Our Workday products, comprising Smart Test, Smart Audit and Smart Shield has maintained its very strong growth trajectory as it continues to expand its international client base.
While we are cognisant of the global macroeconomic landscape, our robust pipeline, strong balance sheet and significant contracted backlog underpin our confidence in our outlook. As a result, we believe that we are well-positioned for further growth and remain confident in our strategy.
The announcement of our results for the six months ending 30 September 2022 will be made on Monday 14 November 2022. As a result of the continued growth of our Workday Services and Workday Products businesses the results will show both businesses as separate divisions in the accounts. Both divisions will use the same format as currently used for the Workday Practice division. There will be no change to the Digital Services reporting.
* Note: Company compiled range is based on known sell side analyst estimates. The ranges are: Revenue £335.7m - £373.4m and Adjusted PBT £62.7m - £66.5m.
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 / Andrew Potts
FTI Consulting LLP +44 20 3727 1000
Matt Dixon / Dwight Burden / Kwaku Aning
About Kainos
Kainos Group plc is a UK-headquartered IT provider, across two specialist business areas, Digital Services and the Workday Practice.
Our Digital Services division develops and supports custom digital service platforms for public sector, commercial and healthcare customers. Our solutions transform the delivery of these services, ensuring they are secure, accessible and cost-effective, and that they provide better outcomes for users.
Our Workday Practice is focused on the deployment of Workday Inc's Finance, HR and Planning software to leading organisations across the public, commercial and healthcare sectors. We are one of Workday's most respected partners, experienced in complex deployment and integrations and trusted by our customers to launch, test, expand and safeguard their Workday systems. We are also the leader in automated testing of customers' unique Workday configurations.
Our people are central to our success. We employ more than 2,600 people across 20 offices in Europe and the Americas.
We are listed on the London Stock Exchange (LSE: KNOS) and you can discover more about what we do and who we are at www.kainos.com.