Last checked at 19 Apr 2022 07:00
19 April 2022
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 year ended 31 March 2022.
Trading in the period continued to be very strong across both business areas as new and existing clients maintained or increased their levels of investment in digital solutions. As a result, for the full year ending 31 March 2022, the Board expects revenue and adjusted profit to be in line with current consensus forecasts.
Against a backdrop of strong market demand in the UK, our experienced Digital Services teams continue to deliver major transformation programmes to new and existing clients across the Public, Commercial and Healthcare sectors. Our international engagements continue to grow in scale, with positive progress in both Europe and Canada.
In the fast-growing Workday services market, our Workday Practice continues to benefit from our well-established global presence. This has been enhanced through the year with the expertise of our new colleagues who joined via the acquisitions of Cloudator (55 people, Europe), Une Consulting (42 people, Argentina), Blackline Group (50 people, USA) and Planalyse (6 people, Netherlands).
Our Smart Product Suite for Workday has maintained its very strong growth trajectory. Smart Test, our automated testing platform for Workday, continues to expand its international client base, signing a record number of new clients during the year. Smart Audit, launched in August 2021, has already established a strong cohort of customers, from our existing client base as well as securing new clients.
Our performance has been underpinned by our long-term customer relationships, and we remain extremely grateful to our customers for the trust that they have placed in Kainos to help them deliver their ambitious digital projects.
Our success is generated by our people, who continue to excel in delivering high-impact solutions to our customers. Despite the increased global demand for digital talent, we continue to retain, develop and attract high quality people; we now have 2,692 colleagues based in over twenty countries (31 March 2021: 2,024 people), an increase of 33% on the prior year.
Looking ahead, 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 full year ended 31 March 2022 will be made on 23 May 2022.
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 12 offices in Europe and North America.
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.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Prior to publication, certain information contained within this Announcement was deemed to constitute inside information for the purposes of Article 7 of MAR.