Business

Kainos half-year results show 9 per cent jump in sales

Kainos chief executive Brendan Mooney

BELFAST software firm Kainos has reported a 9 per cent jump in revenue to £40.6 million over the six months to September, compared to the same period in 2015.

The firm, which floated on the London stock exchange last year provides IT consulting and software solutions.

Statutory pre-tax profits rose 25 per cent to £6.5m from £5.2m.

 

Kainos said the performance was helped by an increase in business with central and regional governments across the UK over the six-month period.

Its digital services footprint meanwhile had "significantly expanded" in commercial sectors in UK and overseas.

The company also significantly in number over the period, by 179 to 967.

Kainos CEO Brendan Mooney said: "We have seen a good performance across the group during this reporting period, with increasing levels of demand for our digital services and platforms.

"In the six months from April 1 to September 30 2016, we have grown overall revenue by 9 per cent, adjusted pre-tax profit by 3 per cent, and statutory profit by 25 per cent.

"Underlying market conditions for digital services remain very positive, supporting a growing sales pipeline and a good outlook for the remaining half of the year, with increasing opportunity for growth in the UK, Ireland and mainland Europe, particularly in commercial industry sectors.

"In our digital platforms business, slow procurement in the NHS was offset by solid growth of Smart, a trend we expect will continue for the remainder of this year. We remain confident that investment in our Digital Platforms business is on target to deliver future returns.

"We are pleased with the group’s financial performance for the six months to September 2016. We are confident that trading is in line with market expectations and we see plenty of opportunities to continue to deliver growth in the future.”

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