TIDMKNOS
RNS Number : 6659W
Kainos Group plc
19 April 2023
19 April 2023
Kainos Group plc
Year-end 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 year ended 31 March 2023.
Our trading in the period has continued to be very strong across
all three divisions as new and existing clients have maintained
high levels of investment in digital solutions. As a result, for
the full year ended 31 March 2023, the Board expects our results to
be in line with current consensus forecasts*.
-- Against a backdrop of sustained market demand, our Digital
Services teams continue to deliver major transformation programmes
to new and existing clients across the Public, Commercial and
Healthcare sectors.
-- Our Workday Services division continues to benefit from a
well-established global presence and reputation. Now present in all
significant European and North American markets, we have access to
the largest markets in the fast-growing Workday consulting
sector.
-- Within our Workday Products division we have three products,
Smart Test (for automated testing), Smart Audit (for compliance
monitoring) and Smart Shield (for data masking). We have maintained
our very strong annual recurring revenue growth trajectory as we
continue to expand our international client base.
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 for our customers. Despite the
increased global demand for digital talent, we continue to retain,
develop and attract high quality people; we now have 2,990
colleagues based in over twenty countries (31 March 2022: 2,692
people), an increase of 11% on the prior year.
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 full year ended 31 March
2023 will be made on 22 May 2023.
* Note: Company compiled range is based on known sell side
analyst estimates. The ranges are: Revenue GBP351.7m - GBP378.0m
and Adjusted PBT GBP66.1m - GBP68.0m.
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
Matt Dixon / Dwight Burden / Kwaku Aning
About Kainos
Kainos Group plc is a UK-headquartered IT provider with
expertise across three divisions - Digital Services, Workday
Services, and Workday Products.
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 provide better outcomes for users.
Our Workday Services division 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.
Our Workday Products division 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 .
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END
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