Last checked at 31 Aug 2023 07:00
31 August 2023
Kainos Group plc
("Kainos" or the "Company")
Trading Update
Kainos Group plc (KNOS), a UK-headquartered IT provider with expertise across three divisions - Digital Services, Workday Services, and Workday Products, today issues a trading update for the period from 1 April 2023 to date.
Despite the uncertain trading environment, our customers continue to maintain their investment in digital projects and trading in the first half has been good. As a result, the Board expects our results for the full year ending 31 March 2024 will be in line with current consensus forecasts*.
· Our Digital Services division has delivered a solid performance with sustained demand from our Public Sector clients.
· As an established partner in the fast-growing Workday consulting sector, our Workday Services division continues to generate strong growth as we engage with international clients in all the significant European and North American markets.
· Within our Workday Products division, our three products, Smart Test (for automated testing), Smart Audit (for compliance monitoring) and Smart Shield (for data masking) continue to deliver very strong growth as we continue to expand our global client base.
As in previous years, our performance has been underpinned by our long-term customer relationships, and delivered by our people, who continue to excel in delivering high-impact solutions for our customers. We are grateful for the ongoing trust of our customers and the efforts of our colleagues across the world.
Looking forward, our robust pipeline, strong balance sheet and significant contracted backlog support our confidence about the future, and 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 2023 will be made on 13 November 2023.
* Note: Company compiled range is based on known sell side analyst estimates. The ranges are: Revenue £418.2m - £434.2m and Adjusted PBT £72.6m - £78.1m.
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
FTI Consulting LLP +44 20 3727 1000
Dwight Burden / Kwaku Aning
About Kainos Group plc
Kainos Group plc is a UK-headquartered IT provider with expertise across three divisions: Digital Services, Workday Services, and Workday Products.
· Digital Services 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 provide better outcomes for users.
· Workday Services specialises in the deployment of Workday, Inc.'s Finance, HR and Planning products to leading organisations across Europe and North America. We are one of Workday's most respected partners, experienced in complex deployment and trusted by our customers to launch, test, expand, and support their Workday systems.
· Workday Products develops products that complement Workday. Our Smart product suite, including Smart Test (for automated testing), Smart Audit (for compliance monitoring), and Smart Shield (for data masking), are used by more than 350 customers globally to safeguard their Workday systems.
Our people are central to our success. We employ more than 2,900 people in 22 countries across Europe and the Americas.
We are listed on the London Stock Exchange (LSE: KNOS) and you can discover more about us at www.kainos.com.